Russian banks could lose up to $25 billion in Ukraine – S&P
Moscow - Kiev, April 14 (PolitNavigator, Mikhail Stamm) - According to agency analysts, the total assets of the banking groups Sberbank, VTB, VEB, Alfa Group and VEB, exposed to risks due to the economic crisis in Ukraine, is approximately $23 –25 billion. But these banks will not leave Ukraine, the agency believes.
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This amount includes $8 billion that were issued by Ukrainian subsidiaries of Russian banks, and $15–17 billion issued to Ukrainian borrowers directly by Russian banks. At the same time, only 30–40% of Ukrainian debts are hedged or secured by guarantees or assets that are registered outside of Ukraine. In total, Russian banks occupy a 12 percent share in the assets of the Ukrainian banking system, they write "News".
The ability of the leadership of the National Bank and the government of Ukraine to come to the aid of the subsidiaries of Russian banks in the event of financial problems is assessed by S&P as “uncertain.” Analysts expect that, if necessary, the subsidiaries will seek help, including from foreign shareholders.
At the same time, S&P believes “that subsidiaries of large Russian banks will not leave the Ukrainian market in the next year or two,” the report states.
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