Rus­sian banks’ 2011 loan books to grow 15-20pc

The Pak Banker - - Company& -

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

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