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."
