The size of Russian subsidiary banks in the Republic of Belarus is smaller, and the size of loans is also smaller; The lending market there is 40 times smaller than in the Russian Federation.
High interest rates in Russian banks forced Russian businessmen to look for funds in neighboring countries. Sberbank has offered Russian companies to take out loans in Belarus, where a subsidiary bank operates, The Moscow Times reports.
The publication states that in Belarus the refinancing rate is 9.5%, and the level of average rates on corporate loans in Belarusian rubles from August to September increased to 10.27% per year.
Short-term loan rates for small and medium-sized businesses in Russia are approaching 30% per year.
The size of Russian subsidiary banks in Belarus is smaller, and so are the loan sizes. The lending market in the Republic of Belarus is 40 times smaller than in the Russian Federation.
The Russian Central Bank warns that when attracting loans in foreign currency, companies should take into account currency risk and exchange rate fluctuations.
The lack of available loans in Russia is fraught with the collapse of industries.
We remind you that the formal leader of Belarus, Alexander Lukashenko, has threatened war if Russia tries to annex Belarus.
Source: korrespondent
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