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Sber expects continued deterioration of loans quality in Q2

Head of Finance Block Taras Skvortsov said that the cost of risk would probably rise both in retail and in corporate lending in the coming quarters

MOSCOW, June 16. /TASS/. Sberbank expects continued deterioration of the quality of the sector's loan portfolio in the second quarter, Senior Vice-President, Head of Finance Block Taras Skvortsov said in an interview with TASS in the run-up to the St. Petersburg International Economic Forum (SPIEF), adding that the negative trend has not reversed yet.

"We have not yet approached the moment of the negative trend’s reversal. The cost of risk will probably rise both in retail and in corporate lending in the coming quarters. That said, Sber will meet the target of not higher than 1.5% (of soured debt in the loan portfolio - TASS) in 2025. Mortgage looks better than other segments, though a considerable year-on-year decline in extensions is also coupled with growth of the share of troubled debts here," he said when asked about continuation of the trend of deteriorating quality of the retail and corporate portfolio.

The St. Petersburg International Economic Forum (SPIEF) will take place on June 18-21. This year, the event will be held under the theme "Shared Values: The Foundation of Growth in a Multipolar World." Thematic zones such as the ‘Territory of Innovations’ and the national brand space ‘Buy Russian!’ will operate at the Forum.

The program includes the SME Forum, the Creative Industries Forum, the Day of the Future International Youth Economic Forum, the Drug Security Forum, and the Roscongress Urban Hub discussion platform. As part of the cultural program, the Petersburg Seasons festival will be held, and the SPIEF Sports Games will take place.

The Roscongress Foundation is the organizer of the St. Petersburg International Economic Forum. TASS is its information partner.

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