Rus News Journal

The Russian banks can inflate a credit bubble

Warn in Standard and Poor’s

In Russia on - former the high credit risk from - for weak legal systems remains­, experts Standard and Poor’s (S &P) speak. In agency notice that at growth of volumes of crediting of a private sector there is a risk of occurrence of a credit bubble.

Yesterday experts of rating agency Stan­ dard and Poor’s have published the annual report by an estimation stranovyh and branch risks of the Russian bank system. Experts S &P notice that, despite low levels of debts both legal, and physical persons, in Russia on - former high level of credit risk from - for weak legal systems which supposes any pravoprimenenie remains.

“ For Russia the weak system of controls and counterbalances and an insufficient transparency of a control system " is characteristic; - it is marked in report S &P. Experts notice that credit - the monetary policy of the country during crisis of 2008-2009 was successful. “ nevertheless inflation remains high, and the Central Bank, in our opinion, is not independent institute “ - it is marked in report S &P.

According to experts Standard and Poor’s, the Russian banks meet the requirements of regulators formally, bypassing them in essence. In particular, the Russian bank legislation is insufficiently effective regarding crediting restriction inside financially - industrial groups. Danger consists in infringement of a principle of crediting on market conditions affilirovannyh structures, experts mark.

As mark in S &P, last year growth of crediting of a private sector has made an order of 20 % in real expression. In 2012 crediting will increase by 15-20 %, thus the volume of credits to legal persons will grow on 10-15 %, to physical persons - on 25-30 %. If private sector crediting continues active growth it can raise risk of a credit bubble, consider in S &P. Total annual losses under credits the next two years will make an order of the given out credits of 2 %.

the Group economist of the Savings Bank Xenia Judaeva agrees with conclusions of rating agency. “ these are the chronic illnesses inherent in our bank system, therefore such high degree of instability “ - has explained g - zha Judaeva. As she said, the risk of occurrence of a credit bubble really exists, especially if supervision is not improved. And here according to the group economist of the company “ finam - Management “ Alexander Osina, growth of a credit portfolio on 15 % does not create risk for system.