Banks will be bigger, stronger and more competitive
First Deputy Prime Minister Igor Shuvalov, predicts that the number of Russian banks in the current economic crisis can go through the process of rehabilitation, but investors this the process should not be afraid, and as a result the banking system will be more stable and competitive, according to Tass.
According to Shuvalov, in an interview program “Vesti on Saturday with Sergei Brilev” on TV channel “Russia-1″, since the budget system receives less revenue, which means that all economic operators have less income, and this leads to a deterioration in the quality of the loan portfolio of the banking system.
«We must understand that some banks, I would say so, will through a period of rehabilitation, recovery. We must understand that we are for this purpose to calm people down – extend your coverage to 1.4 million / RR /. That is, the deposits of the population will still be protected. But this will lead to the fact that banks will become bigger, stronger and more competitive, “- said First Deputy Prime Minister, who coordinates the work of the government anti-crisis program.
According to him, in general, the banking system is currently stable, but it will experience a period of consolidation.
The Russian authorities have decided to allocate for banks to increase capital to 1 trillion rubles, but to take this opportunity to increase capital can only large credit institutions. On the eve of the Board of Directors of Deposit Insurance Agency has approved a list of 27 banks that will be able to raise capital for this program. Total registered in Russia a little more than 1,000 banks.
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