Russia: Banks At Risk Of Losing Billions

People ♦ Published: March 14, 2013; 19:22 ♦ (Vindobona)

According to rating agency Moody’s, Russians banking institutes are at risk of losing money to investments in Cyprus.

Russia: Banks At Risk Of Losing Billions / Picture: © Wikipedia / ATX-NL

Up to $ 20bn is at stake in case credits for Cyprian enterprises are going burst, Moody’s predicts. On Wednesday, Moody’s experts stated that in all probablility, Russian banks and enterprises are prone for losses running into billions. At the end of 2012, Russian banks granted credits to Cyprian companies as high as $ 30bn up to $ 40bn. Furthermore there are deposits in banking…