Russian Banks30 Sep 2007 10:26
credit is being reigned in; there have been lending at high interest rates there...the sub prime situation in the US has shaken confidence...many large banks were initially funded by the oil boom but as Nationalisation (in practise if not name) has occurred and high taxes imposed, profits/income has fallen, notwithstanding the soaring price of oil...this bank is not alone in Russia in finding profits falling...