Russian banks still far from attractive

Apr 17, 2003
Lucie Godeau

MOSCOWForeign investors remain reluctant to invest in Russia's banking sector, which they still see as being fraught with risk despite rapid growth and long-awaited reforms, analysts say.Local banks are only now beginning to reap the benefits of radical restructuring instituted after Russia's 1998 financial meltdown.The number of deposits and loans has doubled over the past two years, while consumer credit and homeowner loans, which barely existed in Russia several years ago, are beginning to de ...

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