Russian banks’ 2011 loan books to grow 15-20pc
MOSCOW: Russian banks' loan books should rise by 15-20 percent next year in real terms, the central bank's first deputy chairman Alexei Ukyukayev said on Wednesday.
Speaking in Russian at the annual Adam Smith Russian banking forum, Ulyukayev said: "I think banks' credit portfolios should rise by 15-20 percent next year in real terms. That's a very desirable level."
He did not give a comparison for 2010 but said the high rates of 40-50 percent seen in 2006-2007 were not ideal.
"That kind of growth causes a lot of risks, creates problems for the stability of the financial sector," Ulyukayev said. "So a measured rise is good." - PB News