Russia Banking & Financial Services Q4 2019
While Russia's stock market has seen exceptional growth, and although the insurance sector is holding steady, we thinkthat the banking sector could face financial instability amid continuing bailouts for lenders, a heavy consumer debt burden, andsluggish economic growth. These domestic factors are exacerbated by new international sanctions and political unrest. That beingsaid, we expect growth across the financial services to continue in the short-to-medium term. Longer-term downside risks remainowing to excessive state involvement in the market, weak regulatory and oversight systems and the ongoing impact of internationalsanctions.
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