OREANDA-NEWS. December 13, 2010. XI International Moscow Banking Forum “The Role of Banks in Modernization of Russian Economy — the Challenge of Time” organized by the Association of Russian Banks, was held in Moscow. Three sessions were held during the event, within them the experts discussed peculiarities of monetary policy in post-crisis period, issues of SME crediting at the current stage as well as ways to strengthen the resource base of credit institutions, reported the press-centre of FBK.

Partner, director of the Strategic Analysis Department, FBK, Igor Nikolaev in the forum’s framework delivered a report “Crediting: Institutional and Economic Macro-Incentives”. First of all, the expert drew attention to the structure of revenue of operating Russian credit institutions. The expert notes that, according to the data as of October 1, 2010 more than a half of all revenues of the banks are revenues from transactions with foreign currency — 62,8%. At the same time the interest revenue from funds lent to legal entities make only up to 7,4%, while from funds lent to individuals even less than that — 2,7%. “The current structure of revenues and expenses of credit institutions reflects the current economic realities: the need of non-banking sector in raising credits is not that big, moreover, banks are rather self-sufficient”, Igor Nikolaev explained.

According to I. Nikolaev, to incite demand for credits the situation in economy should be more certain (so, reliability of forecasts and responsibility for assessments are essential inter alia). “Besides multiplicative effect of budget investments can also provide the demand, as well as inciting private investments”, the expert concluded.

Director of the Credit Institutions Licensing and Financial Rehabilitation Department, Bank of Russia, Mikhail Sukhov, Deputy Chairman of Vnesheconombank, Mikhail Kopeikin, The State Duma’s deputy, financial ombudsman, Pavel Medvedev as well as representatives of the RF Government, Bank of Russia, the Federation Council and the RF State Duma, heads of commercial banks and bank associations also attended the forum.