Banks to increase retail loans 30% in 2011, 20% in 2012 - Zadornov
MOSCOW. Nov 15 (Interfax) - Russian banks will increase retail loan portfolios 30% in 2011 and then 20% in 2012, VTB 24 President Mikhail Zadornov has said.
"If we estimate a 30% increase in the loan portfolio of Russian banks this year, then next year we do not expect more than 20% growth in loans to the population. There will be slower growth," he said in an interview with the Rossiya 24 television channel.
The outlook for loans in subsequent years will depend on how the situation develops in Europe and the United States, Zadornov said.
Personal deposits will grow faster in 2012 than in 2011, he reckons.
Earlier, Zadornov said that VTB 24 plans to expand its loan portfolio by at least 30% in 2012. The bank expects to increase retail loans by more than a third in 2011 and deposits by 30%.