Training on modelling fundamentals December 17–18

Lower interest rates to force banks to alter their funding structure

Changes in resource base of Russian banks: key trends and projections

  • The resource base profile of Russian banks remains stable. The key source of liabilities are funds of clients accounting for around 63% in the total funds raised. Reducing utilization of funds from corporates and the Bank of Russia with concurrent increase of liabilities to government agencies were the key trend of 2017.
  • Competing for cheaper funding would be the key factor of changes in the liabilities profile. According to ACRA estimates, net interest margin (NIM) of banks would be under pressure in 2018. In addition, deposit yields would decline faster than the funding costs in the coming years. Such situation would force banks to compete for relatively cheap sources of liabilities.
  • Banks’ seeking to cut funding costs would result in an intensified competition for deposits of individuals. The average costs of attracting short-term (for less than one year) funds of individuals was 6.02% in 2017, while the respective costs for funds of non-financial companies equaled 8.08%…

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