Nabiullina: Corporate borrowers not in excellent state, but on same level as 2017-2019 in terms of profit to GDP ratio, credit risks still under control

ST. PETERSBURG. Sept 24 (Interfax) - Corporate borrowers are not in an excellent state, but no worse than in 2017-2019 in terms of the ratio of their profits to GDP, and credit risks remain under control, Central Bank of Russia Governor Elvira Nabiullina said.

"The financial state of corporate borrowers is probably not excellent, and not as it was in 2023-2024, when we had record profits across the economy, which we had not seen for many years. But if we look at the financial results and simply the ratio of profit to GDP, this is a good macroeconomic indicator which indicates how much profit the economy is giving us. And in terms of this indicator, we are currently around the level of 2017-2019, when the economy was growing steadily and inflation was low," Nabiullina said at the International Banking Forum, organized by the Association of Banks of Russia.

"The economy continues to grow and credit risks remain under control. Now that we have talked about late payments and so on, banks are being proactive and attentive in making sure credit risks in the economy do not grow overall," she said.