Russia’s banking sector in 2016
Published Papers from Gaidar Institute for Economic Policy
In 2016, Russian banks’ total asset holdings contracted by 3.5% in nominal terms – from Rb 83.0 trillion as of January 1, 2016 to Rb 80.0 trillion as of January 1, 2017. In 2015, Russian banks’ total asset holdings increased 6.9%. The decline in the nominal value of banks’ asset holdings in 2016 was recorded for the first time since asset-holding data began to be published in 1998. An appreciating ruble had a substantial adverse effect on the asset-holding dynamics. In 2016, the ruble gained 16.8% and 19.9% against the US dollar and the euro respectively, and therefore the ruble equivalent of assets held in foreign currency dropped considerably during the year. Banks’ asset holdings, as adjusted for the revaluation of assets held in foreign currency, increased slightly by 2.1% in 2016 after a 1.5% fall in 2015. Thus, the value of banking sector’s asset holdings was steady over the past two years.
Keywords: Russian economy; banking sector; profit; capital; corporate loans; retail deposits (search for similar items in EconPapers)
JEL-codes: E41 E51 G28 G21 G24 (search for similar items in EconPapers)
Pages: 10 pages
Date: 2017, Revised 2017
New Economics Papers: this item is included in nep-cis, nep-mac and nep-tra
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https://iep.ru/files/RePEc/gai/ppaper/ppaper-2017-272.pdf Revised version, 2017 (application/pdf)
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Persistent link: https://EconPapers.repec.org/RePEc:gai:ppaper:ppaper-2017-272
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