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100 banks to be closed in Russia - ACRA

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100 banks to be closed in Russia - ACRA

About 100 Russian banks will leave the market in the next three years.

Axar.az reports that the claim was made by the head of the Russian Analytical Credit Rating Agency (ACRA) Mikhail Sukhov. According to him, one-third of these banks will leave the market voluntarily:

"The number of banks to be reduced will reach 100 in the next three years. Most banks are losing profitability. Shareholders understand that keeping a bank unprofitable is an occupation with no prospects. It seems that the Bank of Russia does not prevent this process."
Date
2020.09.23 / 13:31
Author
Axar.az
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