Nabiullina has promised to continue the cleansing of the banking sector

Nabiullina has promised to continue the cleansing of the banking sector


Moscow. March 28. CB has not yet completed the process of cleansing the banking sector, said the Chairman of the Bank of Russia Elvira Nabiullina, speaking on Tuesday at the Congress of the Association of Russian banks.

“Bringing the market unstable or unscrupulous credit organizations, Bank of Russia, first, protect the interests of depositors and creditors, and secondly, to protect the interests of honest banks. Until we complete the process of cleansing the banking sector. Customers and legal persons will therefore not simply choose the most appropriate from the point of view of products and services to banks, but will seek to minimize the risks of loss of funds”, – said Nabiullina. She said that the process of recovery of the banking sector may take two to three years.

She also said that the banking sector’s systemic risk, it has a margin of safety and potential to increase lending. “In the banking sector, there was systemic risk, there is a margin of safety and potential for growth of lending,” – said Nabiullina. She added that there are signs of revival in demand.

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