6 Jun 2024 11:27

Confidence in Russian financial market not yet back at pre-2022 level - Nabiullina

ST. PETERSBURG. June 6 (Interfax) - Confidence in the capital market is gradually recovering after Russia was hit by sanctions, but it has not yet returned to the levels seen prior to 2022, Central Bank chief Elvira Nabiullina said.

"Confidence in the capital market here has recovered after the blow it received due to sanctions, because they blocked many people's securities in foreign jurisdictions, closed information and people did not understand what companies' shares and bonds they have, what's happening with these companies in such a difficult time. The closure of information was also a blow and this did not promote confidence," Nabiullina said at the St. Petersburg International Economic Forum.

"But we see that confidence is recovering, the growth of IPOs is also showing this. We probably can't say there's an IPO boom, but there are more of them. They are small, small companies are going public and we have huge potential here. But, nevertheless, this is also a kind of indictor of the recovery of confidence in the capital market. Although I don't think it has recovered to the pre-2022 level yet," Nabiullina said.