MOSCOW, October 26. /TASS/. The Russian banking system is in a stable condition and has all the required reserves to finance further economic development, Gazprombank CEO Andrey Akimov said at the meeting with Russian President Vladimir Putin.

"Since we are part of the banking system, I see the Russian banking system is in a very stable and resilient condition. This is owing to the work of the Central Bank and owing to the work of the government and <...> owing to your personal attention to economic and finance issues," Akimov said.

The credit institution’s profit amounted to 130 bln rubles ($1.6 bln) as of the end of the last year, the banker said. The potential of the entire domestic banking sector is high and credit institutions are ready to further large-scale investments.

"We look rather confidently to the future and are confident that banks can finance further development with an appropriate softening of the monetary policy. Reserves are in place," Akimov added.