Stagnation of credit portfolios of the Russian banks has been replaced by a moderate rise. The demand from borrowers has increased for the first time since the crisis burst out. After a long period of stagnation that lasted for more than a year and a half, the banking system has started to increase lending to the economy. Moreover, the process is accompanied by a marked reduction in net foreign assets and thus the Russian banking system is gradually turning from a capital outflow channel into a source of the capital inflow to the economy.
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