Tuesday, June 19, 2018

Sverdlovsk banking sector shows positive growth signs

Last Friday, the Ural Ministry of Economics announced that the banking industry in the Sverdlovsk region showed signs of growth with an increase in business lending and in branch proliferation.

As of Jan. 1, there were 115 authorized business lending institutions registered in the Sverdlovsk region--of which 16 are regional commercial banks, 36 are banking subsidiaries, 61 are banking branches whose headquarters are in a different region of Russia and two Sberbank subsidiaries, Ural Business Consulting reports.

Within the Sverdlovsk region, 32 bank subsidiaries operate outside their federal constituency. In total, the number of bank branches located in the Sverdlovsk region reached 1,401 in 2013, an increase of 3.9 percent from the previous year.

Moreover, the Sverdlovsk region's banking sector increased capital levels by 17 percent over 2012, including an 18 percent rise in private individual investments and a 17.2 percent increase in business investments. Business lending also rose by 28 percent, according to Ural Business Consulting.