Sberbank raises corporate lending by 10.3% in January–September

MOSCOW, Oct 20 (PRIME) -- The corporate loan portfolio of Russia’s top bank Sberbank increased by 10.3% in January–September to 17.4 trillion rubles, Deputy CEO Anatoly Popov told reporters on Thursday on the sidelines of Made in Russia 2022 forum.

“The corporate loan portfolio grew by 10.3% since the beginning of the year excluding revaluation. The portfolio reached 17.4 trillion rubles,” he said, adding that corporate lending in September hit a record for 2022 and returned to the level of 2021.

Russian companies file 2,500 debt restructuring requests totaling 4 billion rubles to Sberbank per week on average, but there is no wide-scale need in restructuring of the loans issued to small and micro-businesses the owners of which have been mobilized, Popov said.

He also said that the bank had received about 25 billion rubles of requests from potential borrowers under a government industrial mortgage program at 3–5% for up to 7 years.

Sberbank is ready to consider launching bi-currency deposits in rubles and the currencies of friendly countries, similar to what it did for the ruble–yuan pair, if there is demand, he said.

(61.5905 rubles – U.S. $1)

End