... The risk lies in price fluctuations during trading: if the key rate rises, bond market prices drop (and vice versa). However, if held to maturity, yield is guaranteed by coupons and the return of the nominal value. A combination of long duration and high rates can provide fixed yields from bonds that are better than those from deposits. OFZ come in small denominations (from 1,000 ₽), and can be purchased through a broker. Taxation. Coupon income from bonds is subject to PIT of 13% (15% if total income ...

... Central Bank of Russia is likely to maintain a tight monetary policy in the coming months, implying that the key rate may remain high, potentially in the range of 20-22%. This exerts a dual effect on the economy and markets: Strengthening of the Ruble: A high rate supports the ruble's exchange rate, reducing inflationary pressure and stabilizing prices for imported goods. Constrained Consumer and Investment Demand: High borrowing costs limit opportunities for both consumers and businesses, thereby restraining ...

Today in Russia, the problem of credit overheating is growing, especially against the backdrop of high interest rates and challenging economic conditions. What does this mean for businesses, and what risks may it lead to? In this article, we analyze what credit overheating is, why companies continue to take out loans despite high costs, and how this can impact ...

... for premium goods remains robust even in the face of economic challenges. Overall, the combination of corporate reports reflects a contradictory picture in the global economy. The financial sector and conglomerate companies demonstrate benefits from high interest rates and diversification, while tech leaders continue to profit from digitization and new trends (cloud, AI), whereas industrial giants are struggling against cyclical demand declines. The consumer segment shows mixed results: mass demand is slightly ...

... Interest and Fee Income Net interest income increased by 18.5% year-on-year to 1.674 trillion rubles, driven by the expansion of lending volumes and the rise in asset yields amidst increasing market rates. The bank effectively capitalized on the period of high rates, boosting income from asset placements while optimizing funding costs; as a result, the group’s net interest margin improved compared to the previous year. Meanwhile, net fee income remained virtually unchanged from 2024 (approximately 349 billion ...