Russian Finance Minister Alexei Kudrin has referred to 2006 as «a record year in terms of financial system capitalization.» The banking system in Russia grows at a higher rate than that in other countries, said Kudrin at a meeting with President Vladimir Putin. Over the year, capitalization grew by R224 billion, banking assets rose by R3.6 trillion to a total of R13.4 trln and assets were up 37%, the minister has reported. He believes that increased capitalization and assets have sparked the growth of lending. Consumer credits soared by more than 50% and loans to the real sector increased by more than 25%.
VZGLYAD.RU, December 25, 2006
