Central Bank: deposits of natural persons in 2016 will increase by 10%

Central Bank: deposits of natural persons in 2016 will increase by 10%


In the second half of 2016 also its downfall can stop retail lending, said the first Deputy Chairman of the CBR Alexey Simanovsky.

TULA, 2 Feb. Retail lending in Russia in 2016 to stop the decline and reach a moderate rise by the fourth quarter, corporate lending will continue to show weak dynamics and deposits for the year could grow by 10%, said first Deputy Chairman of the CBR Alexey Simanovsky.

“I believe that this year will continue weak on the dynamics of the development of lending to non-financial organisations, i.e. the corporate sector. I join the opinion expressed by my colleagues, and analysts that, perhaps, this year retail lending will stop its fall and will be released on a very small positive rates. But I guess it can take place in the second half of this year, even closer to the fourth quarter,” he said.

He expected that this year there will be a certain growth of overdue debts and corporations, and borrowers-natural persons, but the pace of growth will subside. “In General, they faded and in 2015, there was growth, there were even some splashes of growth of overdue debts and reserves. But in my view this fact, associated with certain individual market participants”, — said Simanovsky.

First Deputy Chairman of the Central Bank explained that growth spurts the delay is not characterized by a General trend. “The overall trend was still toward slowing rates of growth of delay. I assume that this will be the case this year too, therefore, the amount of reserves that banks will have to create, can be approximately equal to the volume of provisions created in 2015. I don’t think that can be (reserves — ed.) is significantly less”, — said Simanovsky.

Banks of the Russian Federation in 2015 have established reserves for possible losses in the amount of 1.4 trillion rubles.

Answering the question of what the dynamics will show the deposits of the population in 2016, he replied: “I think they will grow too. I believe that it is possible to 10% growth”. According to the Central Bank, the household deposits increased in December by 8 per cent to 23.2 trillion rubles, in 2015 — by 25.2%.