– Russia’s banking system feels stable, the Central Bank expects growth in lending, said the head of the Bank of Russia Elvira Nabiullina at a meeting with President Vladimir Putin on Friday.
“The banking system and overall financial system feel stable. The main indicators of profitability and sustainability has reached the level of 2014, after a rather difficult 2015-2016 years,” she said.
“Lending is slowly growing. Lending to individuals shows a good growth rate, and starts the growth of lending to non-financial institutions and real sector of economy”, – said the head of the Central Bank.
According to Nabiullina, the banks have accumulated profits, which is the source of their capital. “The capital need for banks to promote lending. And we expect, and our projections show that lending should start to steadily increase,” she said.