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Audio — Russian Standard holds off on Eurobonds
Russian Standard Bank, which has 20 million customers and controls 70 percent of the market for credit cards in Russia, has a “comfortable” financing situation despite the fallout from the U.S. subprime mortgage crisis, Chief Executive Dmitry Levin told the Reuters Russia Investment Summit.
Levin said Russian Standard — owned by vodka-to-banking billionaire Roustam Tariko — would hold off on issuing new Eurobonds this year and in early 2008 and instead focus on retail deposits and asset securitisations to cover its funding needs.
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