The big Russian banks may bankrupt before the end of 2016

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The big Russian banks may bankrupt before the end of 2016

Chairman of state-owned bank Sberbank (Savings Bank), Mr. German Gref said date 2/10 situation the Russian banking sector by the end of 2016 will be very difficult for some of the problems of capital and banks could will go bankrupt. Speaking in an interview with Russia 24 TV channel at investment forum in Sochi, Mr. Gref said: "The sector is relatively stable, there is no liquidity problem. There are some issues which, but they are not as difficult as half a year ago. However, we can see a large number of small and medium banks bankrupt, maybe even all big banks. Therefore, in this field, I said that before the end of 2016, the situation is difficult ... "

Chairman of state-owned bank Sberbank (Savings Bank), Mr. German Gref said date 2/10 situation the Russian banking sector by the end of 2016 will be very difficult for some of the problems of capital and banks could will go bankrupt.
 
Speaking in an interview with Russia 24 TV channel at investment forum in Sochi, Mr. Gref said: "The sector is relatively stable, there is no liquidity problem. There are some issues which, but they are not as difficult as half a year ago. However, we can see a large number of small and medium banks bankrupt, maybe even all big banks. Therefore, in this field, I said that before the end of 2016, the situation is difficult ... "
 
Savings Bank President also said current capable Russian Central Bank reduced the base rate. He said: "It is possible to change the central bank base rate by inflation continues to decline. Unless there is some uncertainty on the currency market, I hope before the end of this year will be at least once reduced the base rate. "
 
Mr. Gref said the inflation rate this year is from 12-13%, and the inflation trend leveled off in recent weeks remained. Russian Central Bank has maintained from Day 11/9 basic interest rate at 11%.
 
According to Sberbank President, he did not wait for special measures this year to stimulate the economy. However, he said that some economic sectors are in need of stimulus.
 
He said: "Some sectors, particularly engineering, automotive industry, and our factories are still good - both Kamaz, GAZ, VAZ, and many other firms, should be supported, so I hope the government will support such sectors "./.

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