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High Credit Losses Likely To Trigger Recapitalization Of Russian Banks Jun 09 Product Image

High Credit Losses Likely To Trigger Recapitalization Of Russian Banks Jun 09

  • Published: June 2009
  • Region: Russia
  • Standard & Poors

FEATURED COMPANIES

  • Alfa-Bank OJSC
  • Bank Vozrozhdenie
  • Gazprombank
  • MDM Bank (pre-merger)
  • Raiffeisenbank ZAO
  • Russian Standard Bank JSC
  • MORE

Abstract
The deepening recession in Russia is leading to an increase in problem loans and credit losses in the country's financial system. Standard & Poor's Ratings Services believes that this trend will be severe enough to result in a restructuring and recapitalization of the banking sector. The extent of the damage and its impact on the Russian banking industry will depend on government policies to support banks and shore up troubled industrial enterprises, including state-owned companies, in our view. We anticipate that Russia's large state banks Sberbank (not rated) and JSC VTB Bank (foreign currency BBB/Negative/A-3)--which together represent almost half of domestic credit to the private sector--will influence greatly the future direction of the industry and its ultimate level of systemwide...

Companies mentioned in this report are:
- Alfa-Bank OJSC
- Commercial Bank Petrocommerce OJSC
- International Industrial Bank
- MDM Bank (pre-merger)
- ZAO UniCredit Bank
- TransCreditBank
- Russian Standard Bank JSC
- Bank of Khanty-Mansiysk (JSC)
- Gazprombank
- Rosbank OJSC JSCB
- B&N Bank
- VTB Bank JSC
- Promsvyazbank OJSC
- READ MORE >

- Alfa-Bank OJSC
- Commercial Bank Petrocommerce OJSC
- International Industrial Bank
- MDM Bank (pre-merger)
- ZAO UniCredit Bank
- TransCreditBank
- Russian Standard Bank JSC
- Bank of Khanty-Mansiysk (JSC)
- Gazprombank
- Rosbank OJSC JSCB
- B&N Bank
- VTB Bank JSC
- Promsvyazbank OJSC
- SME Bank
- Bank VTB 24
- Commercial Bank Renaissance Credit LLC
- MDM Bank
- Raiffeisenbank ZAO
- Bank Vozrozhdenie

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