Support The Moscow Times!

Central Bank's Loan Growth Forecast Holds Firm

Russia's Central Bank.

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.

Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.