Banking system unlikely to repeat financial results of 2014

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April 22, 2016 19:12

The banking system’s net profits in Q1 2015 totalled BYR 758.2 billion, which is almost half of Q1 2014. The negative impact on the banking system performance has had the bankruptcy of Delta Bank. In the future, banks will optimise costs by layoffs, increase competition for customers by providing individual interest rates, and gradually reduce interest rates on loans and deposits. In addition, some banks would change owners. Most banks would be unable to repeat financial results of 2014. Due to deteriorated financial health at enterprises, loans’ quality is likely to deteriorate and overdue debt to the banking system is likely to grow.

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