Banks stopped lending to IT companies for new projects
Banks have stopped giving Russian IT companies loans for new projects. Market participants told Izvestia about this. According to one of them, the problem became apparent about a month ago. Companies are either not given loans or offered to borrow at barrier rates - banks often explain this by the lack of available funds, says one of the interlocutors.
All this leads to the fact that companies are forced to stop or slow down new IT-projects, including in the field of import substitution (for example, the introduction of domestic software instead of foreign) and digital transformation, all three sources point out.
Izvestia's sources link the situation to the Central Bank's rate increase to 21%. People have started to deposit funds on short-term deposits, and banks will have to return them with interest already at the beginning of the next year, so the explanation of the situation by the lack of available funds for lending to large projects looks logical, one of them believes.
The old problem of IT-companies has become more acute - it is difficult for them to get loans because there is practically nothing to pledge: banks do not want to consider intellectual property as such, says a top manager of one of such organizations. Since credit financing is not always available, organizations and their customers are left to develop and maintain IT infrastructure at their own expense, said Karen Ghazaryan, director of the Internet Research Institute.
Neither operators nor digital companies can do without expanding resources, building networks, data centers and the like - which means that in the end their customers will have to share some of these costs, the expert added.
Read more in Izvestia's exclusive article:
By and large: banks have stopped giving IT companies loans for new projects
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