MOSCOW, March 13 (Reuters) – Credit Bank of Moscow, which is
contemplating a possible London initial public offering, is
aiming to increase the proportion of retail loans in its
portfolio betting on the capital’s resilience to Russia’s
Russia’s economic growth slowed to 1.3 percent last year and
events in Ukraine – where Russian forces have seized Crimea
prompting Western calls for sanctions – could knock it further,
causing lasting damage and pushing it into recession. [ID
MOSCOW, March 13 (Reuters) – Russian companies looking to
raise money via initial public share offerings are waiting to
see how severely Moscow will be hit by western sanctions for its
incursion into Ukraine, banking and other sources said.
Several IPOs are in the wings including German retailer
Metro’s ‘s Russian wholesale business, children’s goods
retailer Detsky Mir, and consumer and corporate credit company
Credit Bank of Moscow.
MOSCOW, March 12 (Reuters) – Russia’s largest bank Sberbank
has postponed one of the country’s highest profile
investment conferences due to volatility stemming from the
situation in Ukraine, the bank said on Wednesday.
The move underscores increasing nervousness in Moscow’s
banking sector in the face of Western threats of economic
sanctions in response to Russia’s seizure of Crimea.
MOSCOW (Reuters) – Russia’s central bank is taking steps to prevent the bankruptcy of the Moscow subsidiary of Ukraine’s Privatbank, the Bank of Russia said on Friday, after Privatbank accused it of putting Moskomprivatbank under administration for political reasons.
The central bank said it was taking the measures under a law on banking system stability which enables the state-run Deposit Insurance Agency to provide financial assistance to banks, acquire their property and liabilities, acquire shares, and sell collateral.
MOSCOW (Reuters) – Russia’s third-biggest mobile phone operator Vimpelcom (VIP.O: Quote, Profile, Research, Stock Buzz) fell to a fourth-quarter net loss, missing analysts’ expectations, mainly due to writing down the value of its assets in Ukraine following recent turmoil in the country.
It said its $2.7 billion fourth quarter loss reflected non-cash impairments of $2.9 billion, including just over $2 billion in Ukraine related to “macro-economic developments, an increase in the country risk premium and weakened operational performance”.
MOSCOW, March 6 (Reuters) – Russia’s third-biggest mobile
phone operator Vimpelcom fell to a fourth-quarter net
loss, missing analysts’ expectations, mainly due to writing down
the value of its assets in Ukraine following recent turmoil in
It said its $2.7 billion fourth quarter loss reflected
non-cash impairments of $2.9 billion, including just over $2
billion in Ukraine related to “macro-economic developments, an
increase in the country risk premium and weakened operational
MOSCOW (Reuters) – Bankers scrambled to assess possible damage to corporate deals and tried to calm customers on Monday after Russia’s military intervention in Ukraine unnerved financial markets and hit bank shares in Russia and across Europe.
Both local and foreign banks are likely to be affected if Ukraine’s currency the hryvnia continues to fall, loans are not repaid or the country defaults on its sovereign debt even though Ukraine’s central bank has imposed limits on the amount depositors can withdraw and is ready to provide liquidity.
MOSCOW, Feb 28 (Reuters) – Russian hypermarket chain Lenta’s
stock market debut was clouded by political turmoil in
Ukraine on Friday as investors reined in their exposure to
The negative sentiment pushed Lenta shares below their price
in its initial public offering, which netted around $1 billion
for shareholders including U.S. private equity firm TPG
MOSCOW, Feb 27 (Reuters) – Foreign banks have pared back
their exposure in Ukraine in recent years and the unfolding
crisis could force them to choose between cutting their losses
or holding on to grab market share.
While Russian banks retain a strong presence, several
European banks have pulled out of Ukraine since the global
financial crisis in 2008.
MOSCOW (Reuters) – Russia’s second-largest bank VTB has joined Sberbank in saying it would halt new lending in Ukraine, underlining concerns over financial risks due to political turmoil in Kiev.
Ukrainian President Viktor Yanukovich was driven from power over the weekend after months of upheaval sparked by his decision to spurn deals with the European Union and improve ties with Russia. While the country has an interim leader, a new government is yet to be formed.