The heads of some of Russia’s largest banks have privately discussed the possibility of seeking state aid if the level of problem loans in their portfolios continues to deteriorate over the next year.

Bloomberg writes about this .

At least three lenders designated by the Bank of Russia as systemically important were reportedly considering the possibility that they might need recapitalization within the next 12 months .

The banks were discussing internally how they would raise the issue of assistance with the Central Bank of the Russian Federation if necessary.

This scenario arises because their assessment of the quality of their loan portfolios is much worse than official data shows .

Any request for help depends on a further increase in the volume of problem loans over the next year, sources said, as discussions become increasingly urgent across the banking sector.

On paper, the Russian banking system is in relatively good shape, with profits stable even amid a rise in so-called non-performing loans to companies and households, and the Central Bank of the Russian Federation’s key interest rate at a near-record high of 20%. Officially, the level of bad debt remains well below the levels recorded during past financial crises that were smoothed over by the Russian authorities.

However, the Central Bank of Russia itself advised lenders to focus on loan restructuring rather than admitting the full scale of problem loans.

According to the agency’s interlocutor, while there are few signs of a crisis that could be solved by an infusion of funds in any case, much of the data is classified and the full picture may not be visible .

Earlier, the head of the Russian Sberbank, German Gref, said that the problems in the Russian economy, which arose after a sharp increase in military spending, a surge in inflation, and an increase in the key rate of the Central Bank of the Russian Federation, will not be solved quickly , and the next year, 2026, also “promises to be not the easiest.”

For her part, the head of the Central Bank of Russia, Elvira Nabiullina, stated that the resources that allowed the Russian economy to show growth for two years in the face of a full-scale war against Ukraine and sanctions have been exhausted.

It has also become known that the Russian authorities are increasingly concerned that the “managed cooling” of the economy , as Russian Deputy Prime Minister Alexander Novak called it, may become unmanageable – the Russian economy is slowing down sharply after two years of rapid growth.

Author:  Halyna Yalivets Джерело: https://censor.net/n3563835

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