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Share of overdue debt not to change in H1 2010
RBC, 08.02.2010, Moscow 14:47:51.The share of overdue debt in the Russian banks' loan portfolio is not expected to increase in the first half of 2010 and is likely to remain at the same level at the beginning of the year - 5.4 percent, head of the Central Bank's bank regulations and supervision department Alexei Simanovsky told journalists today. "I believe that in the future, we may see a decrease in the amount of bad loans," he stated. Simanovsky also noted that Russian banks were unlikely to cut their loan loss provisions in H1 2010, though such a reduction would be possible in the second half of this year. The official also indicated that the problem of bad assets would gradually become less marked. "The process is underway. Banks with many bad assets will now be forced to deal with the problem by finding new investors or leaving the market," Simanovsky concluded.
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