Russia's retail lending rose 39.3% in the whole of 2012 and corporate non-financial sector lending grew 12.7%, the central bank's first deputy chairman said Thursday.
Alexei Simanovsky told reporters on the sidelines of an economic forum in Moscow that corporate lending began slowing down in September, partly because of an economic slowdown and high credit rates, which banks say are needed due to insufficient reliability of borrowers.
Earlier this year, Mr. Simanovsky said he expected corporate lending growth to be 15% in 2013 and retail lending growth to slow to 25%-30% from around 50% seen in 2011, adding it would be better "if corporate lending growth was somewhat higher and retail lending growth somewhat lower."
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