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Official says there are no grounds to speak about large-scale banking crisis in Russia

November 17, 2015, 20:01 UTC+3
Chief Executive Officer of Sberbank German Gref said earlier Russia has a full-scale banking crisis
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© TASS/Artiom Geodakyan

MOSCOW, November 17. /TASS/. No grounds exist to speak about a full-scale banking crisis in Russia. The banking system at present is properly discharging all functions of providing loans for population and the real sector, Deputy Minister of Economic Development Nikolay Podguzov told TASS.

"No grounds are in place to speak about the full-scale banking crisis. The system does not usually perform its direct task in banking crisis environment, while our banking system is properly discharging all functions vested in it to provide loans for population and the real sector. The capitalization level of the banking system is acceptable after implementation of government’s measures on additional capitalization," the official said.

"Quality of functions’ discharge by the banking system and the degree of risks in the banking system is another matter. These can be talked about," Podguzov said.

"Health of the banking system is obviously inseparable from health of the economy on the whole," he added.

Chief Executive Officer of Sberbank German Gref said earlier Russia has a full-scale banking crisis. In his turn, First Deputy Chief of the Central Bank Alexei Simanovsky said there are no signs of banking crisis in Russia.

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