Agreement on bases in Syria to serve strengthening of stability in Middle East — MPRussian Politics & Diplomacy January 20, 21:18
Trump's inaugural address: When America is united, America is totally unstoppableWorld January 20, 20:57
Hermitage chief: New Palmyra destruction comes across as militants' vengeanceRussian Politics & Diplomacy January 20, 20:29
Russia's first deputy PM wants to keep current tax system for next political cycleBusiness & Economy January 20, 19:53
Russia’s Shipulin clinches gold in 20km individual race of IBU World Cup stage in ItalySport January 20, 19:18
Prominent Russian adventurer Konyukhov to take samples from Mariana Trench floorSociety & Culture January 20, 19:15
Gazprom CEO says North Stream-2 pipeline proves relevanceBusiness & Economy January 20, 19:10
More survivors found in avalanche-hit Italian hotel — mediaWorld January 20, 18:48
Donald Trump takes office as 45th US PresidentWorld January 20, 18:21
MOSCOW, October 31 (Itar-Tass) - Bank of Russia (CBR) predicts the growth of overdue loans will continue till mid-2014, the head of the CBR banking regulation department, Vasily Posdyshev, told Journalists on Thursday.
“I think bad debt will be increasing till the end of 2014, at least till its second half-year. Then we shall see a better quality of the loan portfolio, with more serious and tough procedures applied in relation to the overdue debt,” he said adding banks would be able to straighten out from mid-2014.
According to the CBR, overdue retail loans increased 35 percent to 422.5 billion roubles in January-September 2013. In September alone they added 3.3 percent, says the banking sector review. Bad debt has been increasing ahead of banks’ loan portfolios. Thus, retail loans grew 21.5 percent to 9.4 trillion roubles over nine months.
In the corporate sector, overdue loans totalled 956.2 billion roubles as of October 1, 2013, 3.5 percent up over nine months and 0.4 percent up in September. Overall corporate lending increased 10.1 percent to 22 trillion roubles in this period.