Sberbank sees growth of corporate deposits by 17–19% in 2021

MOSCOW, Jul 29 (PRIME) -- Russia’s top bank Sberbank has increased its forecast for the growth of corporate deposits with the bank to 17–19% in 2021 from the previous expectation of 13–15%, as seen by PRIME in the materials of Sberbank on Thursday.

The growth forecast for the retail deposits in 2021 was maintained at 7–9%.

The bank also improved the forecast for the growth of retail lending in Russia this year to 18–20% from 16–18%. The bank expects its retail loan portfolio to rise by the same amount. At the same time, corporate lending forecast was reduced to 6–8% from 9–10%.

The central bank may raise its key rate to 7% annually until the end of this year from the current figure of 6.5%.

Sberbank’s expectation of the average annual ruble rate in 2021 was raised to 73.6 rubles per dollar from 73.8 rubles, of the average annual Urals oil price to U.S. $67 per barrel from $60 per barrel, and of Russia’s economic growth to 4.2% from 3.8%.

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