OSCOW, Dec 31 (Reuters) - Russian banks have yet to see a
peak in bad loans which have forced them to channel $28 billion
into provisions this year, wiping out profits across the banking
sector.
Following is a chronology of recent key events in the
sector:
MAY
May 19 - Problem loans could soar to 35 percent to 50
percent of total lending in Russia, Ukraine and Kazakhstan,
Standard & Poor's says. [ID:nLJ957879]
JUNE
June 1 - Russian banks may need to be recapitalised with
around 1.3 trillion roubles ($43.10 billion) in 2009, Moody's
says. [ID:nL1554029]
June 5 - President Dmitry Medvedev rules out creating a "bad
bank" to clean up bad loans. [ID:nL534983]
June 19 - VTB says bad debts could rise to $9 billion by
June 2010. [ID:nLJ543168]
June 29 - VTB says will likely make a loss this year.
[ID:nLT624294] [ID:nLT718543] [ID:nLT16910]
June 30 - Alfa Bank President Pyotr Aven says defaults may
hit $130 billion in the next 12 months. [ID:nLU501949]
- Russian banks require $20 billion to $80 billion in
additional capital within a year as non-performing loans will
reach 15 percent to 40 percent of banks' loan portfolios by
year-end, Fitch says. [ID:nLU368648]
