Yakushev was presented with a report of the Central Bank on the consequences of sanctions for the Ural Federal District

Council of Governors under the plenipotentiary for the Ural Federal District.  Yekaterinburg, Vladimir Yakushev

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Sanctions against Russia in general and the Urals in particular

The economic sanctions imposed by Western countries against the Russian Federation did not affect the financial stability of the Ural regions. The head of the Ural department of the Central Bank Rustem Mardanov told URA.RU in the press service of the embassy.

According to the management of the Bank of Russia, despite the increased sanctions pressure, the corporate loan portfolio grew by 15% over the year to 4.2 trillion rubles. Lending to small and medium-sized businesses grew even faster – by 24%, to 567 billion rubles. As Mardanov clarified, since the imposition of sanctions, banks have restructured 69 thousand loans to residents of the Ural Federal District for 29 billion rubles.

“In the retail lending segment, in particular mortgages, at the beginning of the year, against the backdrop of an increase in the key rate, there was a cooling in demand. As rates fell, lending began to recover. Over the ten months of this year, banks issued mortgage loans in the regions of the Urals Federal District for 354 billion rubles,” Mardanov added.

Yakushev, in turn, noted that the banking sector of the Urals withstood the first consequences of the sanctions and demonstrated well-coordinated work. “It is very important that the sector maintains this synergy and continues to act together. Such an approach will ensure the stability of the financial system and give an incentive for the development of the economy,” the plenipotentiary emphasized.

The last time Yakushev and Mardanov met publicly was in early March, when sanctions on Russia began to tighten. Then the plenipotentiary expressed confidence that the financial sector of the Ural Federal District would cope with the increased pressure.

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