Moody's Investors Service predicts heavy losses of the banking system

Society
International rating agency Moody's has prepared an analytical report which praised the risks of the banking system of Belarus.

Moody's gives a "negative" outlook of the banking system of Belarus.

"The situation in the economy will determine the state of the banking sector. Belarus faces some serious problems associated with covering the budget deficit, trade deficit. From the solutions to these problems will depend on the state's ability to provide resource support to banks, "- said an analyst at Moody's BelaPAN Maxim Bogdashkin.

"Many large companies are supported by the state, so that they continue to perform their obligations to banks. However, the state is becoming more difficult to maintain inefficient enterprises. We believe that sooner or later, these enterprises have difficulties in servicing their financial obligations to the banks, "- said Bogdashkin.

Agency Moody's — one of the main evaluators of the banking system of Belarus. The agency's experts analyze the situation in six major financial and credit institutions in the country, which collectively own more than 70% of the banking market in Belarus.

Tags:

money, finance

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