Households Savings
Q1 2026
Last update: 01.07.2026
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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 Q1 2026, the increase in household financial assets traditionally declined vs the previous quarter and amounted to 886 billion rubles (6.5 trillion rubles in Q4 2025). The increase in household financial liabilities was also lower, totalling to 283 billion rubles (1.3 trillion rubles in Q4 2025).
In Q1 2026, household saving activity decreased in line with seasonal patterns, yet remaining at an elevated level. The seasonally adjusted saving rate in Q1 2026 stood at 16.8%, slightly higher the figure a year ago (15.5%).
Savings (bln rubles)
Fig. 1
Financial assets of the households sector (bln rubles)
Tab. 1
| Annual transactions | Quarterly transactions | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
As of 01.04.2026 |
2022 | 2023 | 2024 | 2025 | Q1-2025 | Q2-2025 | Q3-2025 | Q4-2025 | Q1-2026 | |||
| Financial assets, total | 188 585 | 10 048 | 15 188 | 16 698 | 15 095 | 1 234 | 4 316 | 3 061 | 6 485 | 886 | ||
| Currency | 24 680 | 3 199 | 1 409 | -286 | 642 | -857 | 184 | 497 | 819 | 80 | ||
| Deposits | 75 899 | 4 645 | 8 923 | 13 333 | 9 151 | 1 265 | 2 506 | 921 | 4 458 | -107 | ||
| Broker accounts of households | 344 | -415 | -99 | -139 | 8 | -4 | -23 | -2 | 36 | 4 | ||
| Debt securities | 5 939 | 48 | 829 | 273 | 1 331 | 467 | 263 | 540 | 61 | 323 | ||
| Loans | 1 176 | -232 | 168 | 113 | -47 | -99 | 46 | -10 | 16 | 41 | ||
| Equity and investment fund shares | 62 006 | 2 167 | 2 073 | 1 436 | 1 799 | 352 | 728 | 323 | 396 | 321 | ||
| Listed shares | 7 150 | 1 444 | 325 | 15 | -78 | -83 | 33 | -36 | 8 | -188 | ||
| Unlisted shares and other equity and investment fund shares | 42 346 | 432 | -240 | 205 | 477 | 224 | 161 | 50 | 42 | 37 | ||
| Investment fund units and shares | 12 511 | 290 | 1 989 | 1 216 | 1 400 | 211 | 534 | 309 | 346 | 472 | ||
| Insurance, pension and standardized guarantee schemes | 9 836 | 15 | 72 | 844 | 679 | -119 | 128 | 215 | 455 | 144 | ||
| Other accounts receivable | 1 508 | -371 | 267 | 571 | 510 | 83 | 162 | 158 | 107 | 36 | ||
| Escrow accounts of households | 7 196 | 992 | 1 546 | 554 | 1 024 | 145 | 322 | 419 | 137 | 44 | ||
| Non-financial assets, estimate | 3 290 | 3 975 | 4 683 | 4 945 | 985 | 918 | 1 077 | 1 965 | 2 404 | |||
As of 1 April 2026, the structure of household financial assets continued being dominated by deposits (40.2%), equity and investment fund shares (32.9%) and currency (13.1%).
In Q1 2026, the increase in savings was driven by household investments in other ruble (term) deposits, securities and non-financial assets, while household foreign currency deposits in Russian banks and in non-resident banks contracted.
The growth in escrow accounts continued to slow down and amounted 44 billion rubles.
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
Household investment in debt securities in Q1 2026 amounted to 323 billion rubles. The annual increment remained robust (1.2 trillion rubles).
The increased demand of households in the stock market for equity and investment fund shares was reflected in the rise in household investment in resident investment funds units and shares in national currency (+464 billion 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 01.01.2026 (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 01.04.2026 |
2022 | 2023 | 2024 | 2025 | Q1-2025 | Q2-2025 | Q3-2025 | Q4-2025 | Q1-2026 | |||
| Financial liabilities, total | 49 222 | 2 944 | 7 288 | 5 158 | 2 249 | -185 | 249 | 921 | 1 265 | 358 | ||
| Loans | 45 285 | 2 818 | 7 356 | 5 094 | 1 702 | -227 | 207 | 740 | 982 | 258 | ||
| Bank loans | 40 377 | 2 875 | 7 317 | 4 971 | 2 200 | -135 | 338 | 810 | 1 187 | 461 | ||
| Residential mortgages | 22 051 | 2 444 | 4 822 | 2 429 | 2 239 | 73 | 371 | 610 | 1 184 | 427 | ||
| Consumer loans | 13 268 | 358 | 1 631 | 1 457 | -540 | -153 | -104 | -71 | -212 | -71 | ||
| Car loans | 3 092 | -47 | 504 | 887 | 413 | -31 | 60 | 221 | 164 | 49 | ||
| Other bank loans | 1 156 | 83 | 324 | 82 | -69 | -73 | -27 | 5 | 25 | 17 | ||
| Accrued interest claims | 810 | 37 | 37 | 116 | 158 | 48 | 37 | 46 | 27 | 39 | ||
| Mortgage loans sold to mortgage agents and accounted for repayment | 2 092 | -189 | -272 | -279 | -260 | -38 | -102 | -84 | -36 | -88 | ||
| Consumer loans sold to specialised financial institutions | 771 | -499 | -118 | -126 | -120 | -135 | -127 | |||||
| Loans received from MFO | 1 114 | 75 | 104 | 198 | 229 | 104 | 72 | 68 | -14 | 62 | ||
| Loans received from other entities | 597 | 1 | 190 | 276 | 55 | -34 | 30 | 71 | -11 | -45 | ||
| Non-resident loans | 334 | 56 | 17 | -12 | -24 | -5 | -4 | -6 | -9 | -5 | ||
| Other accounts payable (including debt securities) | 3 937 | 126 | -68 | 65 | 548 | 41 | 42 | 182 | 283 | 99 | ||
As of 1 April 2026, bank loan accounted the largest share of household financial liabilities (82.0% or 40.4 trillion rubles), including housing mortgage loans in the amount of 22.1 trillion rubles.
Structure of household financial liabilities (balances, %)
Fig. 5
* Other liabilities include debt securities, non-resident loans and other accounts payable.
In Q1 2026, the moderate increase in loans and borrowings was mainly driven by housing mortgage loans (+427 billion rubles), supported by government subsidy programmes. The increase in car loans declined to 49 billion rubles, while consumer loans continued to contract (-71 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.
Saving rate – the ratio of the household’s savings to disposable income over a given period.
Information on the compiling process of “Financial assets and liabilities of the households sector” is depicted in the methodological notes.
* Financial and non-financial assets less liabilities (net lending/borrowing).