The ultimate goal of recovering the International Bank of Azerbaijan is to reduce its assets and liabilities and the bank’s privatization should be the next step, Azerbaijan’s Finance Minister Samir Sharifov said. He noted that the bank’s recovery was quite a difficult process and it was too early to talk about its completion. “Unfortunately, the…
International rating agency Standard & Poor’s (S&P) has improved its outlook on BB+ long-term ratings of Russia’s second largest bank VTB Bank in national and foreign currencies to stable from negative, the agency said in a statement. The agency’s move toward VTB ratings also covers VTB’s affiliates VTB Leasing, VTB Leasing Finance, VTB Capital, VTB…
OAO Belarusbank jointly with Russia’s Roseximbank will provide special-terms financing for supplies of high-tech products from Russia to Belarus, the Belarusian bank said in a press-release. Operating as part of Russian Export Centre Group, Roseximbank has been financing Russia’s high-tech products facilitation program since 2015. The banks will provide documentary credit financing in support of…
Elmir Habibullayev has been elected the new chairman of the Supervisory Board of Subsidiary of the International Bank of Azerbaijan (IBA) in Russia, IBA-Moscow, the Center for Disclosure of Corporate Information reported. In addition, by the decision of the parent bank (IBA), Farid Hashimov has been elected a member of the Supervisory Board of the…
Rosinterbank, included in Russia’s 100 largest banks in terms of assets, has completely stopped providing services to its clients, the bank said. “Individual and corporate clients will not be serviced at Rosinterbank’s offices and branches starting from September 15, in order to stabilize the bank’s financial performance”, the bank’s statement said. A source reported that…
The international rating agency Fitch expects that corporate lending in Russia will grow by 5% in 2016 and retail loans will increase within 3%, the agency’s analyst Anton Lopatin said. “In the first half of the year corporate lending adjusted for currency revaluation increased by 2%. Reasons of this growth – rates have decreased, correspondingly,…
The combined net profit of Russian banks amounted to 537 billion rubles in January-August and it is expected to exceed 700 billion rubles overall in 2016, Deputy Central Bank Chairman Mikhail Sukhov said. He said that the January-August net profit exceeded the central bank’s earlier forecast, which stood at 500 billion rubles. Retail lending declined…