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Articles with tag "Banks"
DESPITE CORONAVIRUS
Russia’s Sberbank Posts $10Bln Profit in 2020
Profits down on 2019, but state-owned lender weathers coronavirus storm better than first expected.
End of an Era
Finland’s Nordea Bank Pulls Out of Russia
Nordea Bank said it "will concentrate its activities in the Scandinavian region."
THE SBER ECONOMY
Sberbank’s Big Plan to Become Russia’s Consumer Goliath Takes Shape
The state-owned lender will launch an online retail giant in 2021, as it aims to be the main player in almost every sphere of Russian life.
GOLD MINE
Russian Banks’ Gold Reserves Hit Record High
Lenders’ holdings of precious metals now worth $7.5 billion.
EARNINGS SLUMP
Coronavirus Pushes Bank Profits to Record Low
Wave of loan restructuring hits Russian banking sector, but widespread losses are likely to be avoided.
EXTRADITION ATTEMPT
Russia's Tinkoff Bank Shares Fall as Founder Indicted in U.S.
Owner Oleg Tinkov announced that he has been fighting leukemia in a statement Friday.
CRIMEAN BUSINESS
Businesses Win Landmark Case Against Crimean Compensation Fund
Case highlights unique legal complexities faced by businesses operating on the peninsula.
2020 LOOK AHEAD
Russia in 2020: Where Are All the Foreign Banks?
Foreign banks in Russia generate huge profits, so why are there not more of them?
MOVING MONEY
Tajik Remittances From Russia Could Stop – Kommersant
New banking rules in the ex-Soviet state threaten to deprive families of financial support from relatives working in Russia.
SANCTIONS PROOFING
Russia Says BRICS Nations Favor Idea of Common Payment System
Russia, China, India, Brazil and South Africa to set up a new international bank-to-bank payments system.
BANKING CLEANUP
Russian Banks More Stable and Transparent Than Ever, Central Bank Chief Says
Six years and $80 billion into a mammoth clean-up drive, Elvira Nabiullina hails the strength of Russia’s financial sector.
TRADING TINKOFF
Russia’s Tinkoff Banking on Rapid Expansion
Online bank is on a mission to woo new customers and grab a larger share of the retail sector.
Banking Cuts
Citi Russia Global Markets CEO Leaves as Wall Street Retreat Continues
The Russia general director for global markets has left in the latest investment retreat for a U.S. bank.
RUBLE RECOVERY
Share of Ruble in Banks’ Assets Climbs to Post-Crisis High
Sanctions and the increased attractiveness of the ruble help Russian banks diversify their balance sheets.
SANCTIONS PROOFING
Eight Foreign Banks Join Russian Transfer System
Payments system launched in response to sanctions opens up to foreign users.
Play money
Russian ATMs Accept Fake Bills, Reports Say
The manufacturing error has reportedly led to tens of thousands of dollars in theft from the country's major banks.
debt trap
Relentless Rise of Consumer Debt in Russia Fuels Bubble Fears For Some
After five years of shrinking real incomes many Russians are borrowing to make ends meet.
call it quits
Danske Bank to Exit Russia Amid Money Laundering Scandal
The bank plans to leave by January 2020 amid claims that it was involved in a $230 billion money laundering scandal.
High-level connections
American Banker and Putin Ally Dealt in Access and Assets, Emails Reveal
The emails show the role of Western bankers in the days of Moscow's 2007 economic boom.
Wall Street exit
Morgan Stanley to Shut Down Its Russian Banking Business
Sanctions have made Russian access to international capital markets difficult.
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