Western banks look to cash in on Russian retreat

By Dan Alderson
06 Aug 2014

European loan bankers are worried about the impact Russian sanctions will have on their end of year earnings, but there may be some comfort for them in the likelihood that Russian banks themselves will retrench into their home market rather than push for emerging market business elsewhere.

Several European bankers suggested this week that Russian banks could see their lending business to borrowers outside of Russia curtailed as a result of the sanctions – opening up opportunities for them in turn.

“We’re hoping so,” said one senior London official.

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