The Bank of Russia has warned of systemic risks to the sector as lenders scramble to make up for last year's slump in profits
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The Russian banking sector's lending conditions may continue to tighten moderately until the middle of 2023, the central bank said on Friday.
The Bank of Russia has warned of systemic risks to the sector as lenders scramble to make up for last year's slump in profits, which fell by almost 90% under the strain of Western sanctions against Moscow over its actions in Ukraine.
($1 = 76.0000 roubles) (Reporting by Elena Fabrichnaya; Writing by Alexander Marrow; editing by John Stonestreet)
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