EuroWeek View: 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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