In Hungary, they predicted a stable financial situation in Russia in 2023 – these data were published by analysts of the country’s largest investment bank OTP, reports TASS.
“The working environment of banks [группы OTP] “It won’t get any worse in Russia or Ukraine and they will be able to make a profit in both countries,” said Laszlo Benczyk, OTP Deputy CEO.
He said that the conflict in Ukraine forced the bank to downsize its operations, but in Russia, despite a 57% contraction in 2022, banks made a profit of 3.9 billion rubles after taxes. In Ukraine, financial institutions of the OTP group showed a significant loss of -15.6%.
For the first time since the 2008 financial crisis in the US bankrupt the largest bank is Silicon Valley Bank.
All insured deposits from the SVB have been transferred to the National Bank of Santa Clara Deposit Insurance and depositors are expected to have access to their deposits by Monday, March 13 at the latest. According to US Treasury Secretary Janet Yellen, the US banking system has to deal with the situation around the Silicon Valley Bank.