September 12, 2019 / 8:10 AM / 3 days ago

Russia's consumer lending growth to slow to 10% in 2020 - Otkritie CEO Zadornov

MOSCOW, Sept 12 (Reuters) - Russia’s Otkritie bank chief executive Mikhail Zadornov said on Thursday that the growth of consumer lending in Russia will slow to 10% in 2020.

Zadornov also said consumer lending would remain the most profitable of all types of lending.

Central bank governor Elvira Nabiullina said early this year that the rapid growth in consumer lending in Russia could pose risks to financial stability. (Reporting by Katya Golubkova, writing by Maria Tsvetkova; Editing by Kevin Liffey)

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