Russian Financial Control Monitor

MOSCOW. The growth pace of Russian banks’ retail loan portfolio will drop by 41.5% to 22%-23% by the yearned, predicts Alexei Korovin, Alfa Bank’s board member and head of its retail business. The 34% growth rate of the retail loan portfolio is “extremely high,” and he expects it to decline gradually, he said. The Russian Central Bank’s statistics also shows that the growth of non-secured retail loans has slowed down from 3.6% on May 1 to 3.2% on June 1 and to 2.7% on July 1.

CHEREPOVETS. The Cherepovets smelter, one of the world's largest integrated steel producers and part of Severstal Russian Steel, has announced a price rise of 5%-8% for its flat rolled products in September. The new prices will only apply to orders placed before August 21. Thin hot rolled steel prices will grow from 6% to 8% in various regions; thick steel prices will rise 5%-6% and cold rolled products, 6%-8%. Another price rise its planned after August 21, and will apply to rolled products manufactured in September and October due to the continued increase in steel prices on foreign market as well as the growing prices of raw iron.

2023-10-08 11:42:18