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  Thursday, March 4, 2021
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of Russia's banking sector currently stands at about $40 billion and measures must be taken to raise it
Capitalization of Russia's banking sector currently stands at about $40 billion and measures must be taken to raise it, a senior banking union executive said Thursday. Association of Russian Banks Vice President Vladimir Kiyevsky told a conference that the figure needed to be increased, and said the ARB proposes exempting banks from tax on profits invested in increasing shareholder equity. He said the move would help banks raise their market capitalization and eventually increase the amount they invest in the economy. But he warned of potential pitfalls involved and said it would not be an easy thing to do. "This is a difficult proposal that may fail," Kiyevsky said, adding that the ARB has included it in its program outlining banking sector development for 2010-2020. "I hope the ARB's 17th congress will approve this program, after which we will submit the proposal to the government," Kiyevsky said.
Print of Russia's banking sector currently stands at about $40 billion and measures must be taken to raise it Bookmark of Russia's banking sector currently stands at about $40 billion and measures must be taken to raise it

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