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Bank Industry Risk Analysis: Russian Federation (The) Jun 05
Standard & Poors, June 2005
Abstract
Robust economic expansion and a buoyant consumer sector in The Russian Federation (foreign currency BBB-/Stable/A-3, local currency BBB/Stable/A-3) continue to lift Russian banks' creditworthiness. At the same time, the plodding pace of bank reform and the government's push to reinforce state banks' dominance are holding back improvement at private sector banks. Usually the growth engine in a banking system, private sector banks are still vulnerable to potential economic and political shocks in Russia. The turbulence in the country's interbank market in the summer of 2004, when panicked depositors lined up to withdraw their funds, is a reminder of the fragile state of consumer confidence in the sector. Foreign direct investment (FDI) in Russian banks, a potential impetus for positive sector...
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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