Gref: Every 10th bank could lose its license in 2016

About 10% of Russian banks could lose their licenses next year. This was stated by the head of Sberbank German Gref, speaking in the Federation Council on 9 December.

"Next year, banks will most likely lose the license. According to our estimates, 10% of banks will lose their licenses even in the next year", - Gref cites "Interfax".

The scale of the crisis on the banking sector for 2 years he estimated at 1.8% of GDP to recapitalize the sector was sent 1.5 trillion rubles.

He stressed that the banking system should remain in the area of attention. Capital adequacy, as he said, at a low level - 13%, reports NTV.

The head of Sberbank added that he supports the cleansing of the banking sector, are engaged in "anything but not banking activities."

According to him, during the crisis the banking sector suffered the most, but the policy of the Central Bank was adequate. The shock on the market, he said, was not the fault of the Central Bank, and was caused by a number of prevailing factors.

"It was possible to avoid a large-scale banking crisis. The sector is cleared of dead organizations", - said Gref.

Despite this, Gref believes that next year the banks "will come to life", the struggle for borrowers will increase, and rates will fall.

"I think that next year we will see rates already below 10%. Even, perhaps, the rates will come pre-crisis level," - said the head of Sberbank.

At the same time, he predicted, in 2016, "the economy is in a recession, the economy will deteriorate."

"If there is a new turn in terms of the reforms, the economy will deteriorate", - quotes Gref's "Kommersant".

Note that in Russia today there are less than 700 banks. Almost every week the Central Bank withdraws licenses from several lending institutions.