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27 December 2010, 19:03

Bashkir banks don’t borrow abroad

At the meeting of the mass-media with the chairman of the National Bank RB Rustem Mardanov the anxiety concerning the rise of borrowing in the West was expressed. In opinion of some journalists such steps can again crash Russian economics and cause a new crisis.
“The conditions of borrowing abroad are really improved in 2010 because the interest rates there are lower than in the Russian market” – Rustem Mardanov answered – “This borrowing is in currency so the banks face certain risks when taking this money and now I can say the banks started estimating their risks better than before the crisis. Only the bank “URALSIB” borrows abroad in Bashkortostan because it faces wide demand in currency credits among our main exporters. At that it is important that the volume of earnings and the volume of debts are in currency and one can’t give out the currency credits in rubles because ruble credits are really expensive. The means in rubles are available only for the banks, busy with realization of the state programs and the private banks have to borrow in the market” – Rustem Mardanov explained.
“The National Bank RB supervises only the Republican banks (11) and Moscow controls “URALSIB”. Republican banks don’t borrow abroad and only keep the deposits in foreign currency and here there are no grounds for panic” – the head of the National Bank RB stated.
Author:Svetlana Gafurova
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