Forbes Magazine has released a new version of its ranking of the best banks in the world, and it includes 15 banks of Russia, that is five fewer than a year earlier.
So, compared to last year’s version, list of best left all three largest in terms of assets the Bank of Russia — Sberbank, VTB and Gazprombank, as well as the sixth-ranked Russian agricultural Bank, according to RBC.
in addition, in the top 450 in the world has hit the Ural Bank for reconstruction and development, the Bank “Kuban Credit”, “UniCredit” and the Asia-Pacific Bank. Instead of eight to be eliminated from the ranking of banks, it includes three new — “Avangard”, FK “Opening” and Promsvyazbank.
Recall that Russian banks by the end of April this year, when the country due to the pandemic coronavirus infection COVID-19 acted restrictive measures have earned about 32 billion rubles of net profit against 190 billion rubles a month earlier. Thus, banks reduced the profit of almost 6 times. The reduction of the financial result according to the CBR, largely due to a negative revaluation on operations with foreign currency by private banks amid strengthening of the ruble.
April 23, first Deputy Prime Minister Andrei Belousov did not rule out that the Russian banking system in the fall can face the challenges of deteriorating quality of the loan portfolio. He pointed out that “there is a delayed effect of accumulated risk that, despite the margin of the banking system can create in the fall known issues”. This, according to him, is first and foremost about a potential decline in “the quality of credit portfolio”.
As explained Belousov, currently the total loan portfolio of credits to economy to legal entities that is is 42 trillion roubles, it more than a third, almost 16 trillion rubles, accounts for the directly affected sector. Given the current situation, the volume of loans subject to restructuring, may be up to 4-5 tRLN rubles, that is, up to a third of the portfolio of distressed industries, said the first Vice Premier.
“Second, this increase in government borrowing that, to a large extent will fall on the banks’ balance sheets,” — said Belousov.
In this regard, he stressed that “banks because of its functional role in the economy inevitably absorb and, if I may say so, accumulate the risks that arise in the real sector as a result of the economic downturn”.
let’s Add that the Russian economy in February—March 2020 was under the powerful impact of two negative factors — the rapid spread of the pandemic coronavirus infection COVID-19 and its deleterious effect on the global economy and collapse in oil prices. Against this background, the rouble significantly depreciated against the dollar and the Euro. Reacting to the situation, the government and the Bank of Russia adopted several packages of measures to support the economy and citizens.
may 11, Russian President Vladimir Putin announced the end of may 12, a single period of days off, entered March 30, in the fight against COVID-19. He also announced the beginning of implementation of the third package of anti-crisis measures, under which the state, in particular, will increase targeted support for families with children, small businesses, individual entrepreneurs and self-employed. In addition, Putin instructed the government to prepare a national plan for long-term development of the economy, the recovery in employment and incomes.
on 27 may, the Minister of economic development (MED) of the Russian Federation Maxim Reshetnikov said that the total cost of anti-crisis measures to support the Russian economy, aimed at combating the impact of the pandemic coronavirus has reached 3.3 trillion rubles.
on 2 June Prime Minister Mikhail Mishustin presented to the President a national plan for the recovery of the Russian economy in 2020-2021 years, noting in particular that the cost of the plan will be approximatelyabout 5 trillion rubles.
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