CB says lending growth could resume in Oct-Nov
MOSCOW. Sept 30 (Interfax) - The Central Bank of Russia thinks lending growth could resume in October-November.
"The trend in lending could be bucked in the next month or two," CB Chairman Sergei Ignatyev told reporters, adding that lending by Russian banks was not high right now.
This might be because mechanisms of state support for borrowers and the banks themselves are not working, he said. These include state guarantees, the second tranches of subordinated Vnesheconombank (VEB) loans and discounted automobile loans.
Ignatyev said the loan books of Russian banks would start to grow 1%-1.5% per month in the coming months. Annual growth ought to be about 12%-13%, he said.