Central Bank's Loan Growth Forecast Holds Firm

By The Moscow Times

Sep. 4, 2014

The Russian Central Bank is keeping its loan growth forecast unchanged at 15-17 percent this year and considers banks to be capable of refinancing their debts domestically this year and in 2015, the regulator's deputy head, Mikhail Sukhov, told a conference on Thursday.

Sukhov estimated that Russian banks need to refinance around 300 billion rubles ($8 billion) this year and more next year.

The United States and European Union have imposed sanctions on some largest Russian banks, limiting their borrowing ability on western markets for instruments longer than 90 days.

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