Cbanker says Russia’s top-5 banks concentration at 60%

SOCHI, Sep 6 (PRIME) -- Concentration of Russia’s top-5 banks has approached 60%, Deputy Chairman of the central bank Vasily Pozdyshev said at a forum on Thursday.

“Concerning the five largest banks, the level of concentration in the Russian banking system was 59.4% as of the last report date, approximately 60%. We are in a zone of medium concentration but in its higher range,” Pozdyshev said.

This compares with 43% in the U.S., 31% in Germany and 82% in Brazil.

Pozdyshev also said that 20% out of 186 banks with a capital lower than 1 billion rubles plan to raise it in order to attain a universal license.

President Vladimir Putin earlier signed a law splitting banks on institutions with a universal license and banks with a basic license depending on their capital.

(68.4628 rubles – U.S. $1)

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