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The CBR will not hike provisions for loans issued to salary clients


The CBR plans not to charge additional provisions for unsecured loans issued to salary clients, Kommersant reports. To recap, the regulator had earlier announced its plans, to be introduced from 1 March 2013, to double provisions for newly issued unsecured loans to 2%, as well as to 6% for loans overdue for up to 30 days and to 100% for loans overdue for more than 365 days.

We believe that the step is logical, given that risks are usually higher with walk-in clients than with salary clients, who are normally accepted by banks through their corporate business. Consumer lending banks, which address mainly walk-in clients, are likely to bear the most of the increased burden, in our view.

Mikhail Shlemov, Svetlana Aslanova
VTB Capital analyst

CBR, lending

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