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Bank of Russia projects growth of loan portfolio at 6-11%

On February 16, the Bank of Russia decided to maintain the key rate at 16% per annum, indicating that it is too early to judge the sustainability of the emerging disinflationary trends

NOVOSIBIRSK, March 14. /TASS/. The Bank of Russia expects loan portfolio to grow by 6-11% in coming years, First Deputy Director of the regulator’s Monetary Policy Department Andrey Gangan said.

"We expect growth of loan portfolio, of organizations in particular, by the end of this year, but it will be much more moderate, balanced than last year. <…> On additional volume, which grew in 2023, it will total 6-11%. And further on it will grow with such increased rates in the midterm," he said.

On February 16, the Bank of Russia decided to maintain the key rate at 16% per annum, indicating that it is too early to judge the sustainability of the emerging disinflationary trends. Current inflationary pressures have eased compared with the autumn months but remain high, the regulator said, adding that domestic demand is still outstripping the capabilities to expand the production of goods and services.

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Military operation in Ukraine

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