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Russian banks navigate wartime pressures
Russian banks are facing significant pressures due to the war economy, with local bankers playing a key role in financing the economy, despite the fragility of the banking sector and its exposure to expected Western sanctions. Estimates indicate a deterioration in asset quality and an increase in household debt, with economic growth forecasts reduced to 0.4% from previous estimates of 1.3%. Financial stability risks are heightened by rising non-performing loans and a surge in overdue personal loans to 15%, along with official bankruptcies affecting around 500,000 citizens. Meanwhile, the Russian Central Bank has downplayed these assessments, emphasizing that capital reserves remain high and that ongoing military spending prevents an immediate financial collapse.
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