Moscow holds first night rehearsal of Victory Day ParadeMilitary & Defense April 28, 1:18
Russia’s Kvyat expects full-house attendance at 2017 F1 Russia GP in SochiSport April 28, 1:14
Only OPCW investigation can bring up truth on Khan Sheykhun chemical attack — MoscowWorld April 27, 23:37
Kvyat to race at home F1 GP in Sochi with new helmet design depicting him riding torpedoSport April 27, 21:43
Maria Sharapova gets into quarterfinal of tournament in StuttgartSport April 27, 21:16
Russia, Japan to hold bilateral year of culture in 2018World April 27, 20:49
Angela Merkel’s visit to Moscow – pragmatism above all elseRussian Politics & Diplomacy April 27, 19:18
Japanese businessmen and officials to visit South Kuril Islands in summerWorld April 27, 18:46
Putin, Abe call for quickest restart of talks on Korean settlementRussian Politics & Diplomacy April 27, 18:32
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.