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We have got over the aftermath of banking crisis
28.09.2004 00:00

Retail deposits in the banks of Russia have shown a growth of RUR 40 bln over September, 2004. This has been reported today at the conference Russia: investments into economy of growth by the deputy chairman of the Central Bank Alexey Ulyukaev. He mentioned that the earlier fall of private deposits that had been observed this summer gave place to a different tendency: the growth of deposits since the early September.
       According to Mr. Ulyukaev, the Central Bank hopes that negative aftermath of the collapse of confidence in banking system is over.
       As he states, during the 8 months of 2004 the assets of Russian banking system have amounted to RUR 6,2 trillion, that is 42 per cent of the countrys GDP.
       The liabilities of credit organizations have also grown. 28 per cent of the overall bank resources are household deposits. As of September they exceed RUR 1 trillion.
       The strongest growth has been observed in the sphere of real financing, and consumer financing in particular, the latter showing a 55 per cent growth up to RUR 500 bln. The benefit of bank system for the 8 months of 2004 has increased 9 per cent; out of all credit organizations only 92 turn to be unprofitable.
      Besides Mr. Ulyukaev reports that in September a zero inflation is expected.


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