03:25 GMT10 August 2020
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    Fitch Ratings reported that the near-term prospects for Russian retail banks is improving due to loan impairments and rates reduce in 2017.

    WASHINGTON (Sputnik) — The near-term prospects for Russian retail banks will improve as loan impairments and rates reduce in 2017, Fitch Ratings said in a press release on Monday.

    "Most loans issued from 2010 to 2013, when rapid growth in lending amid intense competition led to severe deterioration of asset quality and a sharp increase in credit losses, have been repaid or written off," the release stated. "Portfolios now mainly comprise loans of better quality, issued under stricter approval criteria from 2014."

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    Fitch Ratings, Russia
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