MOSCOW, Mar 21 (PRIME) – There are no risks of a bubble on the retail lending market, CEO of Russia’s biggest lender Sberbank German Gref told President Vladimir Putin at a meeting on Wednesday.
“We’ve made a comparison … both with ourselves in 2008 and with developing countries -- we do not seen even traits of a nearing emergence of a bubble on the retail lending market,” Gref said.
The loan burden of the Russians is “not critically high” and is unlikely to become an issue in the next two years, Gref said.
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