bne:Chart

Executive Summary:
Stories in this Dispatch:
  1. Russia overtakes Turkey for fastest growing loan growth in CEE
1. Russia overtakes Turkey for fastest growing loan growth in CEE
bneChart
8 February 2012



With 27% FX adjusted lending growth in 2011, Russia overtakes Turkey to become the credit growth leader in EEMEA. Momentum accelerated in 2H, when Russian loan growth was annualizing at 30-35%, widening the gap to Turkeys 10-15%. In a world of sluggish credit growth Russia stands out, offering an attractive risk/reward which we believe GEM investors should not ignore, particularly once political noise tapers after March elections.







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