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Dmitry Olyunin proposed a complex of measures for profitability maintenance

Rosbank CEO Dmitry Olyunin made a report on retail banking at the XXVI Congress of the Association of Russian Banks. The Congress was devoted to ‘The Anti-crisis tactics and strategy: interaction between the banks and regulators’.

Dmitry Olyunin told about the current situation in the banking sector paying special attention to the decrease of volumes in retail lending that have been a key driver of the economic growth for the past years. In order to maintain this business line he proposed to expand current and introduce new preferential lending programs. Particularly, Rosbank CEO proposed to expand the program of the mortgage interest rate subsidizing, for example for secondary housing, and develop the program of state insurance of loans.

“This year we expect essential decrease of interest margin and growth of reserves that will lead to further strengthening of a pressure on banks’ profitability and capital. Net income has decreased by more than 40% in 2014, the forecast on 2015 is also unfavorable”, said Dmitry Olyunin.

Dmitry Olyunin noted that for stable operation banks require support of the state; however, it is important to evade extra-intervention into mechanisms of market regulation of the banks’ profitability and risk policy from the the regulator side. Rosbank CEO proposed a complex of measures that will help market participants to keep profitability, including support of demand for loans, decrease of expenditures on business operations, cost of risks control, expanding of sources for long-term funding and support of capital. Olyunin expects decrease of CBR key rate to the level of 11-12%. It is based on inflation forecast at the level of 9% in 2016.
The President of the Association of Russian Banks Garegin Tosunyan, the minister of finances of the Russian Federation Anton Siluanov and the Head of Central Bank of Russia Elvira Nabiullina opened the Congress with their reports.

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