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Loans in Russia grow 46.4% in 2006 to $337.6 billion

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MOSCOW, March 12 (RIA Novosti) - The value of loans extended to corporate entities and private individuals in Russia increased 46.4%, year-on-year, in 2006, to 8,880 billion rubles (about $337.6 billion), the Central Bank of Russia said Monday.

Ruble loans rose 53.7% in the reporting period, to 6,485 billion rubles (about $246.6 billion), while foreign currency-denominated loans climbed 29.3%, to 2,301 billion rubles (about $87.5 billion), the CBR said on its Web site.

The value of loans granted to individuals increased 75% in 2006, to 2,065 billion rubles (about $78.5 billion), while the value of corporate loans increased 38.6%, to 5,803 billion rubles (about $220.6 billion), the CBR said.

At the same time, the overdue debt on loans extended to corporate entities and private individuals in Russia increased to 1.36% as of January 1, 2007, from 1.26% a year earlier, the CBR said.

The overdue debt on loans to individuals stood at 2.6% as of January 1, 2007, compared with 1.87% a year earlier, while the value of outstanding loans to corporate entities fell to 1.14% in the reporting period, from 1.27% in the previous year, the CBR said.

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