February 26, 2018 / 11:16 AM / a year ago

Russian central bank won't stop banking sector cleanup - governor

FILE PHOTO - Russian central bank Governor Elvira Nabiullina attends a session of the Gaidar Forum 2018 "Russia and the World: values and virtues" in Moscow, Russia January 17, 2018. REUTERS/Sergei Karpukhin

MOSCOW (Reuters) - Russia’s central bank does not intend to stop its clean up of the banking sector in response to concerns over rising state ownership, central bank governor Elvira Nabiullina said on Monday in the upper house of the Russian parliament.

Nabiullina also said the central bank needed to return bailed-out banks to the market quicker. She said that property in banks’ portfolios had been over valued.

Reporting by Daria Korsunskaya; Writing by Polina Nikolskaya; Editing by Christian Lowe

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