Proportion of bad loans in Russia have already reached 10% - Merrill Lynch

International bank Merrill Lynch estimates the current level of delinquent loans in the Russian banking system at a level of 10% and expects to increase this figure to 15%, the report said the bank. "The sharp deterioration in the quality of loans raises serious concerns. At the moment, analysts ML estimated share of bad loans at 10% (according to the Central Bank on April 1 - 3,1%, that the bank considers undervalued). Projected to further increase the proportion of bad loans to 15%. Despite the fact that the CBR has allocated for recapitalization of the sector for more than one trillion rubles, the return of risk appetite in the near future we should not expect ", - analysts said the bank. According to Merrill Lynch, this year may decline in consumer lending (in real terms) by 10% compared with 2008. Lending to the real sector of the economy in rubles for the whole year 2009 will remain at the same level, while in real terms, lending volume declines, analysts add. According to a report Merrill Lynch, credit growth may begin in 2010, but the return rate of 2005-2008 should not wait. "This is due to the lack of a mass influx of liquidity from external markets", - concluded the bank's analysts. Portal Bank.ru Materials Rihanna.