Russian Financials - Getting Better, Like Russia's Football Team
As the countdown begins to the 2018 World Cup in Russia, there are grounds for rising optimism about the home nation's prospects next year. So too we think the outlook for Russia's banks is improving. The economy is gradually healing (our economists project GDP growth of 1.3% in 2017 and 2.0% in 2018), falling interest rates finally seem to be starting to spur credit demand, banking profits are up and even consumer lending is emerging from its long doldrums. But as things improve, discussion of banks sharing more of their new-found gains is picking up. In this note, we update our views on Russia's financial stocks.Bank St. Petersburg OJSC is involved in commercial banking operations within the Russian Federation. Co. is organized into three main segments: Corporate banking, which includes settlement and current accounts, deposits, credit lines and loans; operations on financial markets, which includes financial instruments trading, loans and deposits on the interbank market, dealing in foreign exchange and derivative financial instruments; and retail banking, which provides private customer current accounts, deposits, retail investment products, custody, credit and debit cards, consumer loans, mortgages and other loans to individuals.
Sberbank CIB Investment Research is a research firm offering equity, fixed income, economics, and strategy research. It covers analysis on all aspects of Russia’s capital markets, issues and industries. The firm analyzes trends in Russia and combines local knowledge with a global perspective. It processes macroeconomic data, market and company-specific news, stock quotes and other information for providing research reports. The firm provides details and latest prices on the most traded names and most traded paper on all segments Russian market. In strategy research, it provides thematic research, tips and descriptions of the methodology used to evaluate companies.
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