Russian Banks' CFOs Optimistic About Economic Conditions, Finds Survey
Moody’s Investors Service has conducted a survey of the chief financial officers (CFOs) of around 100 Russian banks, covering those CFOs’ expectations regarding Russia’s operating environment and their banks’ key financial metrics.
Although Moody’s shares the expectations of Russian CFOs on most topics, the report highlights cases were survey responses seem either aggressive, or out of line with recent trends. “For instance, Moody’s views CFO expectations of the extent of asset quality improvement in 2011 as overly optimistic, given our more conservative opinions on the recovery of problem loans and the anticipated performance of restructured loans,” said Eugene Tarzimanov, a Moody’s vice president/senior analyst and author of the survey.
Overall, the responses confirm the view that the Russian banking system is benefiting from the gradual economic recovery, which is:
The survey’s main findings are: