Russia does not feel any crisis, said the head of VTB Andrei Kostin at his company’s “Russia Calling!” forum in Moscow.
“No circumstance makes us feel like we’re in a crisis today,” he said.
“When it comes to the main banking industry problems, of course raising the key rate from 10 to 17% at the end of last year was a shock for us and a hard blow for the economy. Naturally we protested and objected to such policy. But as time went by we saw it’s not all that bad, and moving back to slashing the key rate was pretty rapid we should say in the first half of the year,” Kostin said.