1 Dec 2010 14:39

Russian banks to increase loan portfolio by 11%-12% in 2010, 20% in 2011 - Ulyukayev

LONDON. Dec 1 (Interfax) - The loan portfolio for the Russian banking system in 2010 will increase by 11%-12%, the Central Ban's First Deputy Chairman, Alexei Ulyukayev, said at a banking forum organized by the Adam Smith Institute.

"In nominal terms, the increase of the loan portfolio has come to 9.5% already. For 2010, this will be 11%-12%," Ulyukayev said.

He added that in real terms, the loan portfolio for 2010 would expand by 3%-4%. He said that that growth in nominal terms in 2011 would come to 15%-20%.

"This is a pleasing course of events. The rates of growth during the pre-crisis years were excessive high," Ulyukayev said.

The CB said at the start of the week that loan debt held by companies in January-October had increased by 1.149 trillion rubles, or 9.2% while consumer loan debt went up by 363.3 billion rubles, or 10.2%.

According to the CB, the loan portfolio for the non-financial sector increased by only 0.3% in 2009 while the individual consumer loan portfolio decreased by 11%.