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Articles with tag "Banks"

Russian Central Bank Says It Will Seek Damages From European Lenders

Without naming which banks it plans to take to court, the regulator said it was responding to ongoing attempts to seize its assets.

Duma Moves to Increase State Access to Russians’ Financial Transactions

The legislation will allow Rosfinmonitoring to directly access transaction data from the National Payment Card System.
1 Min read

Italy's UniCredit Moves Toward Russia Exit as Top Executives Quit and Leasing Assets Sold

Several senior executives have resigned and the group has shed local assets.
2 Min read

Russia’s MKB Flags Deepening Loan Losses as Bad Debt Surges Eightfold

Clients failed to repay 585 billion rubles ($7.66 billion) in loans on time between January and September.
2 Min read

Russia’s Central Bank to Lift Restrictions on Foreign Currency Transfers

Money transfers by Russians and non-residents of “friendly” countries will be unrestricted starting Dec. 8, the Central Bank said.
1 Min read
News Analysis

How Customer Discounts Ignited a Battle Between Russia’s Banks and E-Commerce Giants

Russia’s top e-commerce platforms offer discounts to customers who use the platforms’ in-house banks. Traditional lenders are now crying foul.
6 Min read

Vice President of Putin’s ‘Personal Cashbox’ Jailed 8.5 Years for Bribery

Igor Andreev was arrested in March 2024 after police investigators said they caught him receiving part of an illicit payment tied to a real estate development...
2 Min read

VTB Plans Small-Scale Staff Cuts to Improve Efficiency

“This is about optimization aimed at increasing efficiency, primarily in these areas,” first deputy CEO and CFO Dmitry Pyanov said.
1 Min read

Ozon Denies Central Bank’s Claim That Marketplace Discounts Distort Competition

Central Bank Governor Elvira Nabiullina reportedly proposed banning online marketplaces from offering discounts to customers who pay for goods using their...
2 Min read

Sberbank Using AI to Cut 20% of Staff by End of 2025, Gref Says

German Gref said the bank’s heavy spending on AI left little room for other investments.
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Putin Approves Sale of Citibank’s Russian Unit to Renaissance Capital

A decree allows Renaissance Capital to acquire 100% of Citibank Russia from its parent company without any additional regulatory approvals.
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Russia’s FSB Orders Banks to Install Surveillance Systems by 2027

The systems enable security services to intercept and analyze messages, voice recordings, videos and other user-generated content.
2 Min read

Russian Banks Slash Credit Card Issuance After 2 Months of Growth

The average credit limit on new cards also fell by 40,000 rubles ($500) to 109,000 rubles ($1,364), the lowest since April 2024.
2 Min read

Russians Repatriate Record Sums From Foreign Banks – Central Bank

Russians have repatriated about 188 billion rubles ($2.31 billion) in total since March.
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Citibank to Stop Servicing Client Accounts in Russia – Reuters

The bank, one of the largest Western lenders on the Russian market, advised clients to transfer their remaining funds to other banks as soon as possible...
2 Min read

EU Weighs Handing Raiffeisen $2Bln in Deripaska-Linked Strabag Shares – FT

EU ambassadors were expected to discuss the plan in Brussels on Friday, with “several” member states likely to object, the FT reported.
2 Min read

Russian Police Question Holders of Kazakh Bank Cards – Reports

Remote applications for Kazakh bank cards surged after Visa and Mastercard pulled out of Russia following the 2022 invasion of Ukraine.
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Russian Banks Reject 80% of Loan Applications as Debt Burden Rises

Economists say the low approval rate is a symptom of Russia’s heavy household debt load, which reached nearly $420 billion by the end of 2024.
2 Min read

Russia’s VTB Bank Faces Collapse in Lending Income as War Pressures Mount – Bloomberg

The state-owned lender’s net interest income plunged 49% in the first half of the year, an unusually steep drop for a bank of its size.
2 Min read

Illegal Lending Poised to Rise in Russia as Borrowing Conditions Tighten – Report

The Central Bank has imposed sweeping restrictions on consumer lending.
3 Min read
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