Russian banks increase lending to economy in Oct by 0.4%, cut retail loans by 0.5%

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Russian banks increase lending to economy in Oct by 0.4%, cut retail loans by 0.5% - Simanovsky

MOSCOW. Nov 10 (Interfax) - Russian banks in October 2015, without account of forex revaluation, increased lending to the economy by 0.4% and cut retail loans by 0.5%, Central Bank first deputy head Alexei Simanovsky said during a meeting of the Central Bank leadership with bankers on Tuesday.

"Without account of forex revaluation, the rates of growth of lending to the economy in October were positive, but not high - 0.4%," Simanovsky said.

He said that the rates of retail lending were negative - minus 0.5%.

The corporate loan book grew 0.7% in October, not including FX revaluation.

The overall situation is not euphoric, Simanovsky said.