July 8, 2020 / 12:35 PM / a month ago

Russia's central bank says non-performing loans growth to fall in June

MOSCOW (Reuters) - The growth in non-performing loans and loans restructuring in the Russian banking sector is expected to fall in June, Elizaveta Danilova, head of the central bank’s financial stability department said on Wednesday.

Danilova said that banks’ capital provisions for unsecured consumer loans, valued at 584 billion roubles ($8.2 billion) as of June 1, was a sufficient buffer to see them through the economic crisis brought about by the novel coronavirus.

Reporting by Elena Fabrichnaya; Writing by Alexander Marrow; Editing by Katya Golubkova

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