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Articles with tag "Banks"

Russian Banks Reject 80% of Loan Applications as Debt Burden Rises

Economists say the low approval rate is a symptom of Russia’s heavy household debt load, which reached nearly $420 billion by the end of 2024.

Russia’s VTB Bank Faces Collapse in Lending Income as War Pressures Mount – Bloomberg

The state-owned lender’s net interest income plunged 49% in the first half of the year, an unusually steep drop for a bank of its size.
2 Min read

Illegal Lending Poised to Rise in Russia as Borrowing Conditions Tighten – Report

The Central Bank has imposed sweeping restrictions on consumer lending.
3 Min read

Putin Signs Law Allowing Police to Freeze Bank Accounts Without Court Orders

Legal experts have raised concerns about the law’s scope and lack of clarity.
2 Min read

Russian Banks Report Deposit Outflows Amid Falling Rates and Freeze Fears

Eight of the country’s 20 largest credit institutions experienced deposit outflows in June.
2 Min read

Oman Tightens Banking Restrictions on Russian Firms – Vedomosti

Russian companies have increasingly turned to Oman for cross-border settlements after tighter financial regulations took effect in the United Arab Emirates...
2 Min read
opinion Jason Corcoran

Russian Banks Will Fall. The Question Is How Hard.

With some of Russia's largest banks preparing to seek bailout talks, it is clear the country's financial balancing act will not last.
5 Min read

Kyrgyz Banks Tighten Restrictions on Russian Transactions Amid U.S. Sanctions Pressure

Payment processing times have increased, commission fees have doubled and some transfers from Russian firms have been halted altogether.
2 Min read

Russian Billionaire Puts $216M Bank Stake for Sale on Online Marketplace – Kommersant

The 5% stake in Sovcombank put up for sale on Avito belongs to billionaire Mikhail Klyukin, Kommersant reported.
2 Min read

Russia’s Largest Banks Exploring Bailouts as Bad Loans Grow – Bloomberg

The discussions are said to have become “more urgent throughout the banking industry” as the growing volume of bad loans sparks fears that some of...
2 Min read

Russian Importers Hit by VTB Account Freezes, Disrupting China Trade

Employees at five importing firms reported that VTB blocked their accounts between mid-May and July.
2 Min read

1 in 3 Russians Report Transfer Blocks Under New Central Bank Rules, Survey Finds

The measures, which went into effect on May 15, give banks the authority to limit transfers and block cards in cases of suspected fraud.
2 Min read

Russia’s VTB Reports Increase in Overdue Retail Loans

The proportion of non-performing loans (NPLs), those overdue by more than 90 days, in the bank’s portfolio climbed to 4% in May.
3 Min read

Sberbank Workaround Lets Customers Send Money to Europe – The Bell

Legal experts told journalists that the workaround for transferring funds does not technically breach sanctions due to the use of intermediaries.
2 Min read

Russia at Rising Risk of Systemic Banking Crisis, State-Linked Economists Warn

While a full-blown crisis has not yet materialized, several warning signs point to a high likelihood of one happening, the experts said in a report.
3 Min read

Moscow Court Jails Exiled ‘Putin Banker’ Sergei Pugachev 14 Years in Absentia

Pugachev, once a powerful senator and founder of Mezhprombank, was known in the 2000s as “Putin’s banker” due to his close ties to the Kremlin.
1 Min read

Russia's Largest Banks Face Sharp Rise in Loan Defaults

At Sberbank, the volume of mortgage loans showing signs of distress surged 90% between January and March.
2 Min read

Raiffeisen Pauses Russian Bank Sale Amid U.S.-Russia Talks – FT

Raiffeisen Bank International has faced pressure from both U.S. and European authorities to reduce its presence in the Russian market.
2 Min read

Bank Deposits Are Back as Russians’ Favorite Investment in 2024

Depositing money in high-yielding bank accounts is back as Russians’ favorite store of wealth to protect their life savings against the ravages of high...
6 Min read

Putin Approves Sale of Goldman Sachs’ Russian Unit to Armenian Investment Fund

The terms of the deal were not disclosed.
1 Min read
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