Sberbank has issued a report “External Shocks 2015: unpleasant, but no catastrophe” – CIA

21 July 2015

 Center for Macroeconomic Research (CMR) of the Savings Bank issued a report “External Shocks 2015: unpleasant, but no catastrophe».

 

 A new report by Sberbank CMR analyzes likely consequences of the negative development of the situation around Greece, a significant slowdown in China, the lifting of sanctions against Iran, as well as a possible rise in Fed rates in the autumn of this year.

 

 CME expects a significant increase in the level of global market turbulence, while noting that the catastrophic scenarios at the global and regional level are unlikely. However, according to CMR, the recovery of the Russian economy and its way out of recession may be delayed – primarily as a result of lower commodity prices, especially oil.

 

  «While the events that are now unfolding, might have on the world is truly dramatic effect, they will affect Russia on a tangent, – the director of CMR Sberbank Yulia Tseplyaeva. – In times of economic boom, such shocks can reverse the trend of growth, but a recession change qualitatively not look great ».

 

 

  OJSC “Sberbank of Russia” – the largest bank in Russia and one of the leading global financial institutions. The share of Sberbank accounts for around one third of total assets of the Russian banking sector. Sberbank is a key lender to the national economy and has the largest market share in deposits. The founder and main shareholder of JSC “Sberbank of Russia” is the Central Bank of the Russian Federation, which owns 50% of the share capital plus one voting share. The other 50% stake is owned by the Russian and international investors. Sberbank services used by more than 135 million individuals and 1 million companies in 22 countries. The Bank has the most extensive branch network in Russia: about 17 thousand branches and internal divisions. International network of the Bank comprises banking subsidiaries, branches and representative offices in the UK, the US, the CIS, Central and Eastern Europe, Turkey and other countries.

  General license of Bank of Russia for banking operations 1481. The official website of the Bank – www.sberbank.ru.