The Traderszone Network

Published in TZ Latest News 23 January, 2015 by The TZ Newswire Staff

Russia faces $40 billion battle to stave off banking crisis

Russia may have to spend more than $40 billion this year to avert a banking crisis, as the growing likelihood of a sharp recession threatens to pile extra costs on a sector suffering from Western sanctions over Ukraine and a plunge in the rouble. Russian banks are seeing a deterioration in their loan quality, a rise in their risk management costs and increase in their cost of funding, and banking executives and analysts predict things are going to get worse.

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