Fitch Ratings says in a new report that its outlook for the Russian banking sector is stable. This reflects the still reasonably benign operating environment, the system’s generally satisfactory performance and stable asset quality, and limited refinancing risks given the sector’s predominantly deposit funding.
At the same time, Fitch comments that some risks are growing in the system. The credit ratings agency (CRA) is concerned that rapid retail loan growth could lead to asset quality problems, in particular at banks with less experience in this segment. In addition, higher funding costs, due to greater competition for deposits, coupled with a normalisation of provision expenses, are likely to dampen profitability, and capital and liquidity levels have moderated as a result of overall credit growth.
However, a London summit on the industry’s introduction of the technology cautions that testing and acceptance are still at an early stage and firms should proceed with caution.
The proposals of both US presidential candidates could shake up operating conditions in several sectors, reports the credit ratings agency.
The Danish shipping and oil conglomerate confirmed that it will separate its businesses into stand-alone transport and energy divisions.
The central bank has tweaked its stimulus programme and is making a fresh effort to push Japan’s inflation rate above its 2% target.