Shareholders of Azerbaijan’s NIKOIL Bank CJSC will discuss the change of composition of the bank’s Supervisory Board on January 16, 2017. During the shareholders’ meeting to be held in Moscow they will also discuss the change of composition of the bank’s Audit Committee and giving premiums to its members. Currently, NIKOIL Bank’s Supervisory Board is…
The Antimonopoly Committee of Ukraine (AMC) has allowed ex-Deputy Prime Minister for Social Policy Sergiy Tigipko, the founder and major shareholder of TAS Group, to indirectly acquire Universal Bank (Kyiv) through Bailican Limited (Cyprus). Universal Bank was founded in 1994. The largest shareholder of the bank as of the beginning of 2016 was ERB New…
Fitch Ratings has upgraded the long-term foreign currency issuer default ratings (IDRs) of seven Ukrainian banks to ‘B-‘ from ‘CCC’, Fitch has said in a press release. The banks are State Export-Import Bank of Ukraine (Ukreximbank), State Savings Bank of Ukraine (Oschadbank), Alfa-Bank, Ukrsotsbank, ProCredit Bank (Ukraine), Credit Agricole Bank and Pravex-Bank. The outlooks on…
The necessity to additionally capitalize state-run banks will be established after assessing their credit risks in line with the resolution of the National Bank of Ukraine (NBU) No. 351 on the approval of the procedure for determining credit risks under active bank transactions by banks that was recently endorsed, Deputy Finance Minister Yuriy Butsa has…
The National Bank of Ukraine (NBU) allowed the liquidation of Finexbank (Kyiv) at the initiative of the owners. According to the regulator’s website, on November 17, Finexbank had sufficient liquidity to make payments to clients. The volume of highly liquid assets amounted to 21 million UAH, while total liabilities were 6.5 million UAH, in particular…
Azerbaijan’s Financial Market Supervisory Authority has presented a map of bank branches and offices in top tourism destinations in the country. Besides Baku, the map also covers main tourism regions of Azerbaijan – Ganja, Guba, Gabala and Shaki. The bank branches that operate around-the-clock and on weekends are highlighted on the map. The map was…
Russian banks have slowed down their activeness in Kazakhstan. The total loan portfolio of Kazakh subsidiaries of Russian banks decreased by 154 billion tenges, or by 11% since the beginning of 2016. The loan portfolio of Russian banks in Kazakhstan is reducing faster than the loan portfolio of other banks – the total loan portfolio…