Forecast of macroeconomic indicators and the banking sector for 2018 This forecast was published on February 28, 2018. Sberbank reserves the right to review forecast indicators throughout the year, depending on the impact of external factors.

The base scenario for 2018 envisages a stabilization of oil prices at USD 62 per barrel for Urals oil. According to the base scenario, the economy will grow by 2%, the average exchange rate for the US dollar will be RUB 58, inflation will be 4% at year-end, and the Bank of Russia’s interest rate at year-end will be 6.75%.

Nominal growth rate in 2018
Corporate loans Retail loans Corporate deposits Retail deposits
Sector 6-8% 10-12% 5-8% 6-9%
Sberbank In line with the sector In line with the sector In line with the sector In line with the sector