Moscow court prolongs house arrest for director Serebrennikov to Jan 19, 2018World October 18, 1:11
Rusisan tennis star Sharapova comments on her performance in VTB Kremlin CupSport October 17, 19:29
Russia blacklists almost 400 football fansSport October 17, 18:48
Window for dialogue with Ukraine still open — diplomatRussian Politics & Diplomacy October 17, 18:40
Sharapova out of 2017 VTB Kremlin Cup in Moscow after 1st roundSport October 17, 18:35
Ten Russian universities included in Times Higher Education rankingSociety & Culture October 17, 18:00
Diplomat reveals foreign structures behind wave of fake ‘Russian embassy’ accountsRussian Politics & Diplomacy October 17, 16:57
Russian Guard, police may get electroshock shields for special operationsMilitary & Defense October 17, 16:41
Catalonia promises not to give up independence bidWorld October 17, 16:21
MOSCOW, May 25. /TASS/. Sberbank improved its forecast for the average oil price in 2016 from $35 to $40 per barrel, inflation - from 8.5% to 6.8%, according to the bank’s presentation on the financial results of the Q1 2016 under IFRS.
Sberbank also significantly improved its forecast for the average annual ruble exchange rate - from 77.4 to 68 rubles per dollar.
The bank also improved its forecast for GDP growth - from the decline of 2.2% to 0.7% in the current year.
Sberbank expects the lending growth of Russian banks at 0-5% in 2016, according to the presentation,
Earlier the bank forecast growth in loans to companies for the year at 6-8%, to population - decline of 3-5%. In addition, bank slightly downgraded its outlook for the growth of retail deposits - from 16-18% to 15-18%, loans to individuals - from 12-14% to at least 10%.
According to the Russian Central Bank loans to individuals in general in the banking sector decreased by 1.3% in 4 months of 2016, to the companies - by 4.4%, deposits of individuals - by 2.3%, companies - by 6%.
However, Sberbank expects to see continuation of decline in investment against the backdrop of high economic uncertainty. Net capital outflow will decline to $35 bln in 2016 against $57 bln in 2015, according to the bank.
The Russian Central Bank forecasts oil price at the level of $30 per barrel for the current year, inflation of 6-7%, and decline of Russia’s GDP of 1.3-1.5% amid capital outflow of $40 bln.
Sberbank has no plans to sell its Ukrainian business, Alexander Morozov, Sberbank's Deputy Chairman of the board told a phone conference.
"To date we have no plans about it. The Ukrainian business generates income," Morozov said.
"We expect reasonable reduction of the key rate. Not a quick one, not more than by 50 basis points per each reduction. I would not exclude [the rate will be] below 10%, say 9.5% by the year-end," Morozov said.