Source Pravda.Ru

Pskov Region Sees 44% Rise in Loans Invested in Economy

The volume of loans invested in the Pskov Region's economy grew by 44% last year to USD 52 million, according to the region's banking sector. The Pskovskaya Guberniya newspaper reports that long-term credit (over one year) grew three times as fast as short-term credit. Banks in the region also received deposits of around USD 100 million last year.

State savings bank Sberbank is the region's leader on almost all counts and is responsible for 56% of all loans invested in the regional economy. Sberbank also holds about 80% of the region's deposits. The region's leading banks for hard currency operations are RusRegionBank and Baltiiskii Bank. Between them the two banks hold about 95% of the region's hard currency deposits.

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Default more likely to hit American, rather than Russian economy