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Russia: Focus on the banking sector

Name: 08/07/2004. Commerzbank: Russia: Focus on the banking sector
Creator: Cbonds
License: https://creativecommons.org/licenses/by/4.0/

08/07/2004 | Commerzbank

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Over the last couple of days credit spreads for two major Russian
private banks, MDM and Alfa, have widened significantly. We do
not see the current liquidity squeeze as a fundamental risk to the
Russian banking system. We would recommend buying MDM and
Alfa on the assumption that CBR actions would be aimed at
preservation of the banking system.

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