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Russian banking system ‘well prepared’ for new financial crisis – VTB CEO

October 10, 2011, 18:43 UTC+3
The Russian banking system is “well prepared” for a possible adverse impact of a new global financial crisis
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MOSCOW, October 10 (Itar-Tass) —— The Russian banking system is “well prepared” for a possible adverse impact of a new global financial crisis, VTB CEO Andrei Kostin said.

“It is much better prepared than it was in 2008. Capitalisation has increased, and risks have declined,” he said on Monday, October 10.

“The banking system is quite strong today, and although there are some problems with liquidity, there are also instruments that were tested in 2008,” Kostin said.

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