Articles by Mikhail Shlemov

Russian Banks: Autumn Might Not Be That Bad

  • 04 August 09
  • VTB Capital
The Russian banking sector is seeing significant growth in NPLs, but at only 4.6 percent, we think that they are still far from their peak (which we expect in 2010, as loan books keep maturing).

Will a Wave of Bad Loans Wash Over the Banking Sector?

Last year, the Russian banking sector was rocked by two waves of financial crisis: the repo market collapsing in September and the deposit run on banks in October-November. And now a third wave, with rising bad loans and provisions eroding banks' profits and equity, is on its way.