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. Last Updated: 07/27/2016

Banks Face ‘Zero Growth’

The banking sector faces “zero growth” in 2010, Alexander Turbanov, head of the Deposit Insurance Agency, said Thursday.

Nonperforming loans will remain a problem, albeit one that banks can manage on their own using accumulated reserves, Turbanov said.

“This will take up nearly all their reserves, however, and won’t leave any reserves of capital to expand lending,” he said.

(Bloomberg)