We see a significant deterioration." The head of Sberbank announced massive defaults on loans and predicted worsening problems in the economy.
Sberbank is registering a sharp deterioration in the situation with payments on business loans due to the worsening of the economic situation, an increase in taxes and drone attacks on infrastructure, the head of the bank Graf said on Thursday.
"We see a significant deterioration in the corporate sector in the second half of the year. And this trend will last until 2027. And in such a complex geopolitical situation, you see that every day certain industries suffer damage. It may not be critical, but nevertheless, organizations are forced to invest constant resources to restore some of their production capabilities," Graf said (quoted by Reuters).
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