The head of VTB Andrey Kostin expects that in 2023 the Russian banking sector will return to positive financial results. The banker predicted that this year the potential losses of the banking sector will amount to 1.5 trillion to 3 trillion rubles. and higher – depending on the degree of optimism or pessimism.
“We expect to return to positive results next year. I don’t want to make a prediction. But I offer a solution. This situation can be “repaired” without large-scale additional capitalization of the banking sector with real money. It is enough for us to temporarily abandon a number of Basel III norms while maintaining generally modern approaches, including IRR (an approach to assessing the magnitude of credit risk based on internal ratings.— “b”). This will make it possible to do without additional capitalization, and over the next three to five years, banks will again be able to increase capital to the previous level. The capital requirements for banks, which are set by the Basel standards, are not economically justified under the current conditions, ”said the head of VTB in an interview with Kommersant.
At the end of May, at a meeting of the Association of Banks of Russia, Andrei Kostin said that under the conditions of sanctions, the international Basel standards that regulate the work of banks do not work. He proposed to replace the concept of “Basel” with the Russian system, calling it “Voronezh-1”. However, the head of the Central Bank, Elvira Nabiullina, said that Russia does not plan to abandon the Basel standards.
More details – in an interview with the head of VTB “Kommersant” “”The time for reflection has passed””.
More news in Telegram channel “Kommersant”.