Russian banks reduce corporate loans 0.9% in Jan, consumer lending up 0.6%
MOSCOW. Feb 10 (Interfax) - Russian banks reduced corporate loans [excluding interbank loans] by 0.6% in January, including loans to non-financial organizations, which went down 0.9%. However, consumer loans increased by 0.6%, the Central Bank of Russia (CBR) said in its materials on the development of the banking sector.
Total assets in the Russian banking sector went down in January by 1.1% because of the lesser number of working days in the month.
The share over overdue loan debt for non-financial organizations increased from 4.6% to 4.8% in January. This figure for consumer loans went down from 5.2% to 5.3%.
Bank investments in debt obligations contracted by 1.3%, debt securities - 3.1%. Investments in discounted bills increased by 15.2%.
The main reason for the decrease in the resource base for the bank sector was 10.01% outflow from corporate deposits in January. In addition, there was 2% outflow from individual deposits.
At the same time, total loans raised from non-resident banks went down by 3.6%. Russian banks partially compensated for this outflow by increasing funds raised from the CBR by 12.7%.
Russian banks' total pretax profit in January 2012 came to 102.7 billion rubles compared to 76.8 billion rubles in the same period of 2011.