Credit optimism

Banks Finansy21-01-2010 Credit optimism Credit growth in Russia this year will be 20%. With such an optimistic forecast was made by the Central Bank first deputy chairman Alexei Ulyukayev. Last year, lending increased by 0,2%, but clients significantly increased their deposits, banks have access to relatively cheap Western money and the rate of the Central Bank has reserves to decline. Until now, banks are sitting on money. But analysts believe the situation will change in the medium term. On December 1, 2009 the aggregate amount of individual deposits in Russian banks reached 6.999 trillion rubles. Partially worked, compensation for the outflow of deposits in 2008, when the population worries about a possible wave of defaults. In addition, in the first half of 2009, banks have made a real race of interest rates on deposits, which forced the Central Bank issue a warning about possible problems due to unsustainable policies for attracting funds for contributions. In this case, loan rates also remain high, which is one of the main problems of the Russian economy. And by the way, the high cost of raising funds as the population increases and the cost of selling bank assets.