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Russian Banks Rebuild People's Trust - Deutsche Bank Russia

© REUTERS / Toby Melville/FilesWorkers walk past the London headquarters of Deutsche Bank in the City of London, Britain in this May 19, 2015 file photo
Workers walk past the London headquarters of Deutsche Bank in the City of London, Britain in this May 19, 2015 file photo - Sputnik International
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Russian banks, on the whole, have restored their clients' trust, hurt by the fall in value of the national currency amid the decline in oil prices, Pavel Teplukhin, the CEO of Deutsche Bank Group in Russia, told Sputnik.

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MOSCOW (Sputnik) — He added that banks successfully navigated the economic downturn, although the rate of loans provided to corporate businesses is still low.

"This year, banks are likely to have good profits, that means the fears of possible capital losses among banks were groundless. In general, the banking sector has rebuilt people's trust, the number of deposits is rising at record rates," Teplukhin said.

The Russian economy suffered a setback in 2014, as the ruble lost about half of its value against the US dollar amid low global oil prices and Western economic sanctions imposed against Russia over the Ukrainian crisis.

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