Russian private banks: Caveat lender
The news that almost a third of Bank of Moscow’s $30bn loan portfolio may include non-performing real estate loans is a reminder that — in emerging markets in particular — international lenders' credit processes must be strong enough to drill through what can be opaque financial reporting.
Loan pricing for the top European borrowers is tightening by the week and emerging market credits are, unsurprisingly, getting in on the act. Russian state controlled banks, for example, are putting more pressure than ever on their lenders.
Sberbank signed a $2bn three year loan with a margin
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