30 Sep 2009 16:29

Central Bank expects banking sector to be profitable in 2009

MOSCOW. Sept 30 (Interfax) - The Central Bank of Russia expects the country's banking sector to get back in the black by the end of 2009, Central Bank Chairman Sergei Ignatyev told journalists on Wednesday.

When asked if the banking sector would post a profit in 2009, he said, "I think so, but this isn't the most important thing."

Increasing reserves is currently more important than posting a profit, he said.