Nabiullina has promised to continue the cleansing of the banking sector

Nabiullina has promised to continue the cleansing of the banking sector

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According to the head of the Bank of Russia, this process may take 2-3 years


Photo: NEWS/Mikhail Tereshchenko

The Central Bank took 2-3 years for the process of cleansing Bank pruner from unreliable credit institutions. This was stated by the head of the Bank of Russia Elvira Nabiullina at the Congress of the Association of Russian banks. She noted that the Central Bank is on the side of honest participants in the banking market.

Nabiullina said that the Central Bank intends to bring the purification process to end in the next 2-3 years, reports “RIA Novosti”. The Chairman of the Bank of Russia also noted that the Russian banking system are systemic risks, and the stock of capital to increase lending from banks is 1.8 trillion rubles, which is “margin of safety”. She added that getting rid of unfair and unsustainable credit institutions, the Central Bank will not only protect the interests of depositors and creditors, but the interests of honest banks.

“We will revoke the licences, when we realize that the actions of management and the owners of the Bank do not meet the interests of its depositors and creditors. If we will not withdraw such banks from the market, the normal honest banks will not be able to compete in the market,” Nabiullina was quoted by the TV channel “360“.

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