Russian manufacturers have shown improved profitability and better debt service-to-income ratios, despite facing increased sanctions pressure. This positive trend is attributed to a recovery in sales.
The tight monetary policy has not significantly impacted the resilience of banks. The net interest margin of these financial institutions decreased slightly, reaching 4.5% at the end of the first quarter.
Additionally, macroprudential measures have been effective in limiting household over-indebtedness.
Further information can be found in the latest issue of the Financial Stability Review.