March 6th, 2010 • 16:03
(AFX UK Focus) 2010-03-03 18:18 Russia banks at risk from real-estate-backed loans
(AFX UK Focus) 2010-03-03 18:18 Russia banks at risk from real-estate-backed loans
MOSCOW, March 3 (Reuters) – Over two thirds of Russian loans are guaranteed by real estate, new research by Russia’s top lender has shown, an imbalance analysts have warned is a huge risk for the banking sector if the economic situation worsens. Unlike Russian stocks, which rallied last year after a deep fall in 2008, real estate prices have lost 30-50 percent since peaking in 2007 and have yet …
Read more on Interactive Investor
Leave a Reply
No Comment
Be the first to respond!