Cbank head Nabiullina says banking system stable

MOSCOW, Oct 27 (PRIME) -- The Russian banking system is currently stable, the central bank’s Chairwoman Elvira Nabiullina said Friday at a meeting with President Vladimir Putin, the Kremlin reported.

“The banking system and the financial system in general feel stable. We have reached the level of 2014 on main indicators of profitability and stability after quite difficult 2015–2016,” Nabiullina was quoted as saying.

Lending is gradually growing, she said.

“Personal lending is already showing a good pace of growth, and lending of non-financial organizations, the real sector of economy is starting,” she said.

Banks have accumulated profit, and this is a source of capital, Nabiullina said. “Banks need capital to develop lending. And we expect, and our forecasts show that lending should start growing stably,” she said.

Nabiullina also said it is important for Russia not to get into the situation that was three years ago when the country’s access to financial markets was limited.

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