Financial assets and liabilities of the households sector
Q3 2025
Last update: 30.12.2025
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Financial assets and liabilities of the households sector (balances) |
| Financial assets and liabilities of the households sector (transactions) |
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In Q3 2025, household financial assets increased by 3 trn rubles, financial liabilities rose by 0.9 trn rubles. Financial savings* were traditionally higher than that in the second quarter.
Rolling
Financial savings (rolling 4Q-period, bln rubles)
Fig. 1
Financial assets of the households sector (bln rubles)
Tab. 1
| Annual transactions | Quarterly transactions | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
As of 01.10.2025 |
2021 | 2022 | 2023 | 2024 | Q3-2024 | Q4-2024 | Q1-2025 | Q2-2025 | Q3-2025 | |||
| Financial assets, total | 183 413 | 9 009 | 10 962 | 15 633 | 16 974 | 3 428 | 6 402 | 1 370 | 4 330 | 3 052 | ||
| Currency | 24 071 | 867 | 3 199 | 1 409 | -286 | -13 | 230 | -857 | 184 | 586 | ||
| Deposits | 71 714 | 2 583 | 4 645 | 8 923 | 13 333 | 2 074 | 5 658 | 1 265 | 2 511 | 917 | ||
| Broker accounts of households | 380 | 92 | -415 | -99 | -139 | 10 | -25 | -4 | -23 | -2 | ||
| Debt securities | 5 680 | 911 | 48 | 829 | 273 | 30 | 92 | 467 | 279 | 540 | ||
| Loans | 1 106 | 131 | -232 | 168 | 113 | -9 | 50 | -99 | 46 | -17 | ||
| Equity and investment fund shares | 60 187 | 1 780 | 2 167 | 2 073 | 1 436 | 393 | 507 | 476 | 718 | 330 | ||
| Listed shares | 7 179 | 1 077 | 1 444 | 325 | 15 | 24 | -121 | -92 | 23 | -57 | ||
| Unlisted shares and other equity and investment fund shares | 42 020 | 326 | 432 | -240 | 205 | 66 | -78 | 356 | 160 | 48 | ||
| Investment fund units and shares | 10 988 | 377 | 290 | 1 989 | 1 216 | 302 | 706 | 211 | 534 | 340 | ||
| Insurance, pension and standardized guarantee schemes | 8 474 | 283 | 15 | 72 | 844 | 451 | 216 | -119 | 128 | 215 | ||
| Other accounts receivable | 4 787 | 504 | 543 | 713 | 846 | 294 | 254 | 96 | 165 | 64 | ||
| Escrow accounts of households | 7 014 | 1 858 | 992 | 1 546 | 554 | 196 | -579 | 145 | 322 | 419 | ||
As of 01.10.2025 deposits (39.1%), equity and investment fund shares (32.8%) and currency (13.1%) still accounted for the largest shares in the structure of household financial assets.
In Q3, household savings traditionally increased mainly due to the growth of deposits (+917 bln rubles).
Savings in cash in national currency rose by 542 bln rubles, in foreign currency, by 44 bln rubles.
Household funds in escrow accounts increased by 419 bln rubles (+ 322 bln rubles in Q2, 2025).
These data are also available in the monthly publication.
Transactions by the type of financial instruments (rolling 4Q-period, bln rubles)
Fig. 2
* Insurance, pension and standardized guarantee schemes, loans, other accounts reveivable (w/o escrow accounts).
Household investments in securities and equity and investment fund shares
In Q3, 2025, households invested 542 bln rubles in long-term resident debt securities. Investments in non-resident debt securities decreased by 13 bln rubles after the decline in Q2 (-31 bln rubles).
In Q3, 2025, household funds in equity and investment fund shares increased by 330 bln rubles. The main growth was provided by investments in resident investment fund units and shares (+ 337 bln rubles).
Household investments in securities and equity and investment fund shares (rolling 4Q-period, transactions in bln rubles)
Fig. 3
Structure of household financial assets by countries as of 01.07.2025 (balances, %)
Fig. 4
Source: Bank of Russia (Financial accounts of the system of national accounts of the Russian Federation); OECD Data.
Financial liabilities of the households sector, bln rubles
Tab. 2
| Annual transactions | Quarterly transactions | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
As of 01.10.2025 |
2021 | 2022 | 2023 | 2024 | Q3-2024 | Q4-2024 | Q1-2025 | Q2-2025 | Q3-2025 | |||
| Financial liabilities, total | 47 338 | 5 082 | 2 944 | 7 288 | 5 158 | 1 353 | 366 | -185 | 249 | 925 | ||
| Loans | 44 044 | 5 045 | 2 818 | 7 356 | 5 094 | 1 355 | 252 | -226 | 207 | 744 | ||
| Bank loans | 39 364 | 5 157 | 2 875 | 7 317 | 4 971 | 1 377 | 72 | -145 | 338 | 814 | ||
| Residential mortgages | 20 769 | 2 910 | 2 444 | 4 822 | 2 429 | 482 | 293 | 73 | 371 | 610 | ||
| Consumer loans | 13 855 | 1 934 | 358 | 1 631 | 1 457 | 492 | -369 | -162 | -104 | -67 | ||
| Car loans | 2 880 | 228 | -47 | 504 | 887 | 338 | 91 | -31 | 60 | 221 | ||
| Other bank loans | 1 115 | 105 | 83 | 324 | 82 | 40 | 26 | -73 | -27 | 5 | ||
| Accrued interest claims | 745 | -20 | 37 | 37 | 116 | 25 | 32 | 48 | 37 | 46 | ||
| Mortgage loans sold to mortgage agents and accounted for repayment | 1 888 | -219 | -189 | -272 | -279 | -72 | -77 | -70 | -69 | -84 | ||
| Consumer loans sold to specialised financial institutions | 733 | -61 | -108 | -126 | -120 | |||||||
| Loans received from MFO | 1 066 | 112 | 75 | 104 | 198 | 55 | 72 | 104 | 72 | 68 | ||
| Loans received from other entities | 652 | -19 | 1 | 190 | 276 | -2 | 247 | -2 | -2 | 71 | ||
| Non-resident loans | 341 | 13 | 56 | 17 | -12 | -3 | -1 | -5 | -4 | -6 | ||
| Other accounts payable (including debt securities) | 3 294 | 37 | 126 | -68 | 65 | -2 | 114 | 41 | 42 | 182 | ||
Bank loans traditionally dominated in the structure of household financial liabilities (39.4 trn rubles), of which mortgage loans accounted for 20.8 trn rubles. Loans from microfinance organisations totalled 1 trn rubles, or 2.3% of total household liabilities.
Structure of household financial liabilities (balances, %)
Fig. 5
* Other liabilities include debt securities, non-resident loans and other accounts payable.
In Q3, 2025, the growth of loans accounted for 744 billion rubles, with housing mortgage loans occupying the largest share of it (610 bln rubles). Consumer loans decreased by 67 billion rubles.
Financial liabilities (rolling 4Q-period, transactions in bln rubles)
Fig. 6
* Other liabilities include debt securities, non-resident loans and other accounts payable.
Information on household savings helps to improve the consistency of data on household money income and spending, financial accounts, and sectoral balances of the System of National Accounts (SNA). It also provides updated and detailed data on household financial assets and liabilities, which enables comprehensive analysis of:
- household consumption and saving behaviour;
- household preferences regarding investing in financial instruments;
- structure of household loans;
- dynamics and composition of household financial wealth, which is an integral part of household wealth.
The non-financial part is reflected in the capital account of the SNA, net acquisition of financial assets is recorded in the financial account.
Information on the compiling process of “Financial assets and liabilities of the households sector” is depicted in the methodological notes.
* Financial assets less liabilities (net lending/borrowing).