Intellinews – Russia Banking Report
Intellinews – Russia Banking Report The IntelliNews Russia Banking Sector Report offers an extensive summary of the Russian banking sector. It includes a complete coverage of the latest developments, trends and corporate news, accompanied by thorough statistics and comments. This sector report is ideal to keep you abreast on recent company and industry news. Written by local professionals, it is a unique market and business intelligence analysis, tailored to save time by providing in-depth information, while helping you to make confident and informed business decisions.
Executive SummaryIn line with the forecasts of the Central Bank of Russia (CBR), aggregate banking sector profit in 2011 amounted to RUB 848bn in 2011, going up by 48% as compared to RUB 573.4bn seen in 2010. The year was characterized by sharply declining reserves on losses and restructuring of bad loans, growing crediting and stabilization of margins. Lending activity was steadily picking up throughout last year, starting at about 15% y/y growth for the real sector and individuals in January and ending with 26% and 36% y/y growth, respectively, in December. Banking sector assets increased by 23% in 2011, roughly 79% y/y of asset growth last year accounting for lending growth. As opposed to …