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Russian banks will face tougher conditions in 2024

Location:

RUSSIA

Banking sector profitability surged from RUB199bn (USD2.2bn) in 2022 to around RUB3.3tn in 2023. Rising profitability was generated by robust credit expansion, lower loan…

Russia's construction boom is likely to moderate

Location:

RUSSIA

The completion of residential housing units reached a post-Soviet record of 110 million square metres. This strong expansion in construction activity was demand-led, stimulated by…

Russia will expand support to small businesses

Location:

RUSSIA

However, small- and medium-sized enterprises (SMEs) play a significant role in the economy, especially in service industries. They also provide a rising share of new jobs. The…

Weaker ruble will add to inflationary pressures

Location:

RUSSIA

The size of the rate hike attests to the CBR’s determination to tame domestic price rises at all costs, even though this is likely to restrict credit growth and dampen output. The…

Mexican banks may post another year of record profits

Location:

MEXICO

AMLO’s government recently shelved a plan to buy part of the retail banking operations of Citigroup’s local subsidiary, Banamex -- a plan that had caused concern among bankers and…

After a strong year for Australia, growth will slow

Location:

AUSTRALIA

This figure is higher than the RBA’s forecast of 1.5%, as labour demand remains strong and business investment resumes as supply chain disruption subsides. However, persistent…

Petrobras pricing policy will bring doubts in Brazil

Location:

BRAZIL

The new pricing policy replaces the previous import parity price applied since 2016 and may attenuate the impact of international price volatility on the domestic market. The new…

Tax exposes fiscal challenge facing Italy’s coalition

Location:

ITALY

The measure sent bank stocks tumbling and ignited intense political debate, after which the government partially backtracked. The displays the ad-hoc nature of Meloni's economic…

Brazil banks foresee renewed lending growth this year

Location:

BRAZIL

The Brazilian financial system, which is still dominated by five state and private banks, saw slower loan growth and worsening asset quality in 2023 due to high inflation and…

Turkey's return to economic orthodoxy may waver

Location:

TURKEY

The statement implies that a return to economic orthodoxy is likely, following two years of unorthodox policies built around Erdogan’s preference for low interest rates. The…