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Articles with tag "Banks"

Russia’s VTB Reports Increase in Overdue Retail Loans

The proportion of non-performing loans (NPLs), those overdue by more than 90 days, in the bank’s portfolio climbed to 4% in May.

Sberbank Workaround Lets Customers Send Money to Europe – The Bell

Legal experts told journalists that the workaround for transferring funds does not technically breach sanctions due to the use of intermediaries.
2 Min read

Russia at Rising Risk of Systemic Banking Crisis, State-Linked Economists Warn

While a full-blown crisis has not yet materialized, several warning signs point to a high likelihood of one happening, the experts said in a report.
3 Min read

Moscow Court Jails Exiled ‘Putin Banker’ Sergei Pugachev 14 Years in Absentia

Pugachev, once a powerful senator and founder of Mezhprombank, was known in the 2000s as “Putin’s banker” due to his close ties to the Kremlin.
1 Min read

Russia's Largest Banks Face Sharp Rise in Loan Defaults

At Sberbank, the volume of mortgage loans showing signs of distress surged 90% between January and March.
2 Min read

Raiffeisen Pauses Russian Bank Sale Amid U.S.-Russia Talks – FT

Raiffeisen Bank International has faced pressure from both U.S. and European authorities to reduce its presence in the Russian market.
2 Min read

Bank Deposits Are Back as Russians’ Favorite Investment in 2024

Depositing money in high-yielding bank accounts is back as Russians’ favorite store of wealth to protect their life savings against the ravages of high...
6 Min read

Putin Approves Sale of Goldman Sachs’ Russian Unit to Armenian Investment Fund

The terms of the deal were not disclosed.
1 Min read

Dutch Bank ING Seals Deal to Leave Russia After 30 Years

ING said it will incur a loss of 700 million euros as part of its exit from the Russian market.
1 Min read

Sberbank Opens First Full-Service Branches in Occupied Ukraine’s Kherson, Zaporizhzhia Regions

Sberbank was among the first Russian companies to be sanctioned over the invasion of Ukraine, leading to its complete withdrawal from the European market...
1 Min read

Assad Regime Airlifted $250M From Syria to Russia – FT

The cash shipments, consisting of $100 bills and 500 euro notes, were sent between 2018 and 2019 and reportedly weighed nearly two metric tons.
2 Min read

Russians’ Cash Savings Reach All-Time Low – VTB

Gorshkov also said that high interest rates would result in Russians transferring around 350 billion rubles of their cash savings into banks this year...
2 Min read

Gazprombank Warns of UnionPay Card Issues Abroad Following U.S. Sanctions

Russian banks began issuing UnionPay cards after Visa and Mastercard suspended services in Russia following the 2022 invasion of Ukraine.
1 Min read

U.S. Targets Gazprombank in New Sanctions Package

Washington accused Gazprombank of facilitating payments for soldiers and enabling Russia’s purchase of military equipment for the war.
1 Min read

Iranian Bank Cards Now Usable in Russia

Transactions have been made possible by linking Iran’s Shetab interbank network with Russia’s Mir payment system.
1 Min read

Russian Court Orders Seizure of JPMorgan Funds as VTB Seeks Damages for Assets Blocked Abroad

The St. Petersburg Arbitration Court ruled to seize $155.8 million in any currency from all JPMorgan bank accounts, according to Reuters. 
1 Min read

Two Major Buyers Said To Bid for Raiffeisenbank Russia

Sources said that RBI is prioritizing a sale to a non-sanctioned entity to minimize the risk of Raiffeisenbank being added to sanctions lists after the...
2 Min read

Raiffeisen Slashes Correspondent Accounts in Russia

Such massive movements of correspondent accounts could be directly related to a significant reduction in the bank's cross-border transfers, analysts surveyed...
2 Min read

JPMorgan, HSBC Handled Payments for Wagner’s Africa Operations – Report

But reporting by the Financial Times suggests that neither bank knowingly handled transactions for Wagner’s front companies.
2 Min read

Court Freezes Shares of Raiffeisen’s Russian Division, Delaying Sale

The court’s injunction is tied to a lawsuit by Russian investment holding company Rasperia against Austrian construction firm Strabag.
1 Min read
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