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Russian banks earned profits of $3.4bn in January, the most ever for the first month of the year, but the banking sector is still limping from the shock of extreme sanctions imposed last year.
From March, Russians struggling to make ends meet will be able to take “credit holidays” for mortgages, consumer loans and credit card bills.
Biggest deals were takeovers of ExxonMobil's Romanian assets, Ford Romania and CA Immo’s office buildings portfolio.
The share of non-performing loans in Ukraine reached 37% in December 2022, their highest level since the nationalisation of Privatbank in 2016.
Major Western banks had already adjusted their regional portfolio allocations back to Central Europe so the Ukraine war has not forced a complete reassessment of business strategies.
With most COVID-19-related support measures having been phased out, borrowers are now being put under pressure by surging inflation and sharply rising interest rates.
The aggregated net profit of Romanian banks surged to €581mn in Q3.
The head of the National Bank of Ukraine (NBU) resigned on October 4 citing health-related reasons.
Ukraine’s banking sector was back in profit for the year in July, but only just, earning a cumulative UAH3.4bn ($91.98mn) in the year to date, according to the latest data from the National Bank of Ukraine.
Sri Lanka’s experience has rattled and unnerved some Mongolians who fear the government does not have the solutions to the country’s steep FX debt.
Ukrainian President Volodymyr Zelenskiy has stripped his friend and leading oligarch Ihor Kolomoisky of his Ukrainian citizenship in a move that clears the way for his arrest and deportation to the US, where he is under investigation.
Ukraine’s banking sector is holding steady in the midst of the war-storm sweeping the country and returned to profit in May after losing money in the first two months of the war, according to the National Bank of Ukraine (NBU).
Sky-high inflation is forcing more Russians to take out expensive short-term loans to make it to the end of the month, when they get their pay-check.
Ukraine’s banking sector has been weathering a string of storms, from the coronavirus pandemic to a full-scale invasion by Russia, with remarkable strength, but in the last two months the shocks are starting to have an effect.
The cumulated profits of the three largest banks in Romania — Banca Transilvania, BCR and BRD — exceeded RON1bln in Q1.
By the end of April the acute phase of the crisis induced by the start of the war in Ukraine was clearly coming to an end. The financial system had a shock but fast action by the CBR prevented a crisis.
The EBRD made a record profit of €2.5bn in 2021 on the performance of equity investments and the reduction of expected credit losses.
Despite Russian soldiers marching around Ukraine and destroying entire cities, Ukraine’s banking system is still working and has managed to remain stable.
Outcry at revelation that many of DBM's "risky" borrowers are well-known Mongolian business leaders with links to, or past service in, government or parliament.