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Bank Industry Risk Analysis: Russian Federation (The) Jun 04
Standard & Poors, June 2004
Abstract
The banking market in the Russian Federation (foreign currency BB+/Stable/B, local currency BBB-/Stable/A-3) is booming, led by the high level of investment in domestic businesses and explosive growth in the retail sector. At the same time, the sector's future looks even better, due to Russia's strong economic growth prospects and the still-low level of banking intermediation in the economy. If economic and regulatory reforms continue, Russian banks could carry on their breakneck pace of expansion for several more years. But success is not assured, because the industry has been slow to reform and many bad practices remain. The turbulence in the country's interbank market toward the end of the second quarter of 2004, triggered by the failure of two small...
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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