Finance and Capital Market Commission in cooperation with Federal Bureau of Investigation’s Counterproliferation Center found out in a target inspection that Latvian banks – Norvik Banka and Rietumu Banka – had not followed requirements of regulations for the prevention of money laundering and terrorism funding. Violations are associated with client evaluation, which includes transaction monitoring…
S&P Global Ratings affirmed its “B+/B” long- and short-term counterparty credit ratings on Ipoteka Bank JSCM. The outlook is stable. The affirmation reflects S&P’s view that over the past two months Ipoteka Bank’s capitalization has significantly improved on the back of support received from the government of about Uzbekistani sum (UZS) 380.8 billion (about $95…
Nationalized PrivatBank has been determined an authorized bank that can be attracted to the storage of cash reserves of the National Bank of Ukraine (NBU), the NBU reported on its website, with reference to NBU Board resolution No. 460-RSh dated July 19. “Thus, the National Bank continues to delegate some of the functions that it…
The Finance Ministry of Ukraine and PrivatBank signed a memorandum of cooperation, which would allow using unique achievements and technologies of the bank in the IT industry to create a unified system for verifying budgetary payments in Ukraine, the PrivatBank press service reports. According to Finance Minister Oleksandr Danyliuk, the national budget annually loses billions…
Russia’s VTB 24 is buying the share (49%) of Azerbaijani AtaHolding group of companies in the authorized capital of VTB Bank Azerbaijan, says a message on the website of the Center for Disclosure of Corporate Information. VTB 24 will acquire 124,496,737 shares of the bank at a cost of $0.25 each. Thus, the total transaction…
The falling dollar rate forced the National Bank of Kyrgyzstan to enter the foreign exchange market again with intervention. The bank bought dollars. As the official website of the National Bank of Kyrgyzstan reported, it carried out the third intervention in July. But, unlike the first two, it did not sell, but bought US dollars.…
The supervisory board of PrivatBank (Kyiv) has announced McKinsey & Company the winner of a tender to select an internationally recognized company responsible for drawing up a strategy of the financial institution. PrivatBank said in a press release that the objective of this assignment was to design a market strategy to optimize PrivatBank operations while…