ACRA CEO: 50 banks may leave the market in the next three years
[ad_1]
The Russian market may be 50 foreign banks in the next three years, declared Mikhail Sukhov, head of the ACRA rating agency and former deputy chairman of the Bank of Russia, in an interview with Izvestia.
“We expect most foreign banks to go out of business in Russia within a three-year period. In total, over 50 credit institutions controlled by foreign capital operate in our country,” Sukhov said.
At the same time, the capital of some of these banks is controlled by friendly states, in particular China. “They certainly won’t close,” he stressed. At the same time, there are several groups that may leave the market – these are small banks that are owned by large companies or enterprises. The other group includes organizations that are “within larger groups”.
“Their owners – the state, private business – will cut costs. The potential for consolidation is objectively much greater than the few players that have been involved in it lately,” the head of ACRA specified.
Last autumn, Sukhov gave a different forecast for the withdrawal of banks from the Russian market. Then the head of the agency notedthat 50 banks will leave Russia in the next year and a half. According to him, the main economic factors for which the number of banks is declining are related to the departure of non-residents and consolidation in the public sector. They have not yet “turned around” completely, so this year these factors will not have a strong significance, Sukhov noted.
In addition, he expected about 20-30 banks to leave by the end of next year – then he said that Raiffeisen and Unicredit could be among them. Now Sukhov said that there is a reduction in the Russian business of these organizations. “ACRA assigns ratings to these banks, so we have restrictions on information disclosure. I can say that in April we assigned Raiffeisenbank the highest credit rating – AAA. If we see that this creditworthiness is changing, we will take another action. The same applies to UniCredit Bank,” said the head of the agency.
[ad_2]
Source link
