Russia's Financial Industry less Attractive for Foreign Investors

Falling oil prices, economic sanctions and the weakening ruble have all taken their toll on Russian's financial industry, causing profits in this sector to shrink by a staggering US$ 12 billion in 2014. While the largest banks are reeving financial support from the Central Bank, a number of smaller banks were forced to merge or terminate their operations completely. Unfortunately, Russia's economy is projected to remain sluggish over the coming years, and the level of bad loans is expected to increase. As a result, foreign banks are expected to look elsewhere for profitable markets. Lots of brands claim to be number one… but can they prove it?At Euromonitor International, we help brands build trust through evidence-based research. Our claim validation service ensures your marketing messages are backed by real data. Stand out in a crowded market. Visit euromonitor.com/claims to learn more.