icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm

EBRD president calls for Russian banks to strengthen

EBRD president calls for Russian banks to strengthen
The President of the European Bank for Reconstruction and Development, Jean Lemierre, in an interview with RT has underscored positive changes in Russia's banking sector but mentioned there is still room for improvement.

“The banking sector is changing quite quickly. You have large state-owned banks. They make their own changes and own moves. If you take such a bank like VTB, they increased their retail operations and separated them into VTB-24. So you see this type of changes. And you have the Russian private banking sector, mainly at the regional level. You have many good banks. Last year we have taken 4-5 equity stakes into these banks to support them, to help their growth to finance their markets better. And you have some foreign banks which moved in a large way into the Russian market. So you see changes,” he said.

“Is it yet up to what it should be? Probably not because Russia a growing market. There is a need for the banking sector to strengthen, probably to consolidate and certainly to continue very good banking supervision,” EBRD president concluded.

One of the aims of the European Bank for Reconstruction and Development is to increase lending in countries with underdeveloped banking sectors.

Dear readers and commenters,

We have implemented a new engine for our comment section. We hope the transition goes smoothly for all of you. Unfortunately, the comments made before the change have been lost due to a technical problem. We are working on restoring them, and hoping to see you fill up the comment section with new ones. You should still be able to log in to comment using your social-media profiles, but if you signed up under an RT profile before, you are invited to create a new profile with the new commenting system.

Sorry for the inconvenience, and looking forward to your future comments,

RT Team.