Monday, August 10, 2015

Nabiullina: The outflow of deposits from the banking sector of the population is fully compensated – RBC

Quote.rbc.ru 10.08.2015 14:50

At the end of the past – earlier this year in the Russian banking system has been the outflow of deposits. Now fully offset the outflow. It was Russian President Vladimir Putin said the head of the Bank of Russia Elvira Nabiullina.

According to the report about the meeting on the Kremlin website, Nabiullina explained that these contributions increased by 7.2%. Three-quarters of deposits – in rubles. There was some growth of dollarization, but then declined, she added.

The average rate on deposits actively changed following the decline in the key rate, now it is about 10-1%, perhaps higher.

On Putin’s remarks that this means that “in principle beneficial to keep people,” the head of the Central Bank of Russia said: “Of course, profitable. Attractive rates, appealing for contributions”.

Speaking of rates loans, Nabiullina said that the Bank of Russia conducts monitoring of the 20 largest banks. In January, primarily large loans to the real sector of the economy were issued at a rate of 25-27%, is now more than half of loans issued at a rate of between 14% and 18%. This rate is still quite high for most businesses, however there is a decrease from the peak. “We expect that the financial system will maintain its stability and will perform the main function of credit and financing of the economy”, – assured Nabiullina.

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