By Andrei Skvarsky. According to the chief executive of Russia’s biggest lender Sberbank, Russian banks face no serious competition from small and medium-sized financial technology companies. Continue Reading
Tag Archives: Russia
Sberbank launches versatile electronic brokerage platform for institutional clients
By Andrei Skvarsky. Russia’s biggest lender Sberbank has launched a single electronic brokerage platform for institutional clients that gives them access to all key Russian and international floors for financial instrument trading. Continue Reading
Individuals withdraw $479bn from Russia between 2016 and 2017 – Tranio, central bank
By Andrei Skvarsky. Russian individuals withdrew $479bn from Russia between 2006 and 2017, taking the money to 257 foreign countries and territories, Russian real estate broker Tranio said, citing Russia’s central bank. Continue Reading
EXCLUSIVE: Some of RenCap’s traditional products offer crypto market access – senior manager
By Andrei Skvarsky. Legislative gaps prevent Russians from pursuing full-scale cryptocurrency business, yet Russian banks have been finding legally safe ways of access to cryptocurrency markets in meeting growing client demand – Renaissance Capital, for one, sells traditional products that offer exposure to the crypto world. Continue Reading
Renaissance Capital hires utilities analyst for Russia, Europe, Africa
By Andrei Skvarsky. Investment bank Renaissance Capital has hired Sergey Beiden, a former senior strategist at Russian electricity generator Quadra, as utilities analyst for Russia, Africa and European emerging markets. Continue Reading
RenCap hires ex-Deutsche researcher Ivan Kachkovski as equity analyst
By Andrei Skvarsky. Renaissance Capital, a Moscow-based investment bank with global operations, has hired Ivan Kachkovski, formerly a senior researcher at Deutsche Bank, as an equity analyst for Russia, the Commonwealth of Independent States and emerging Europe. Continue Reading
Renaissance Capital reports robust performance for 2017
By Andrei Skvarsky. Renaissance Capital, a Moscow-based privately owned investment bank focusing on emerging and frontier markets all over the world, has reported robust performance for 2017, including a year-on-year net profit increase of 43 per cent. Continue Reading
Russia’s RenCap hires Ahmed Hafez as head of MENA research
By Andrei Skvarsky. Russian investment bank Renaissance Capital has hired Ahmed Hafez as head of Middle East and North Africa (MENA) research. Continue Reading
Cryptocurrencies, blockchain among subjects to be raised at Cbonds-organised forum in London
Cryptocurrencies and blockchain, which are the “in-thing” in financial markets across the world today, will be among numerous subjects to be raised at the VII Cbonds Emerging Markets Bond Conference in London on April 19-20, organised by St Petersburg-based financial information company Cbonds. Continue Reading
Russian investors warming to South Africa – govt agency
By Andrei Skvarsky. There is considerable and growing interest among Russian companies in investing in South Africa, according to a study based on surveys and cited by a South African government agency responsible for managing the country’s global reputation. Continue Reading
London forum to discuss fixed income business in emerging markets
About 200 financiers are expected to come together for an annual conference in London on April 19-20 to discuss anticipated developments and investment opportunities in fixed income markets in Africa, the Middle East, Latin America, Asia, Central and Eastern Europe, Ukraine, Russia, other member countries of the Commonwealth of Independent States, and the Caucasus region. Continue Reading
COMMENT: Russian govt to deny cryptocurrencies are money in apparent plan to prevent legal quandaries
By Andrei Skvarsky. The Russian government is apparently resorting to verbal manipulation to rule out legal quagmires that might arise if a Russian bill of December 2017 to allow cryptocurrency deals becomes law – problems that could be caused by the rouble’s status as the only legal tender within Russia. Continue Reading
Sovcombank-Rosevrobank merger expected to create one of Russia’s top 3 private banks
By Andrei Skvarsky. Russia’s Sovcombank and Rosevrobank have agreed to merge in a deal that will bring into being what is expected to be one of Russia’s top three private banks by assets and capital. Continue Reading
Fewer Russians dodge tax on foreign accounts as transparency pact signed – Tranio/Adam Smith Conferences survey
By Andrei Skvarsky. The proportion of wealthy Russians who declare bank accounts held abroad to Russian tax authorities has quadrupled over a little more than a year since Russia joined a multinational accord on the automatic exchange of financial information, surveys suggest. Continue Reading
EXCLUSIVE: Russian banks probing crypto market in anticipation of green-light law – Sovcombank
By Andrei Skvarsky. As Russia’s government is drawing up legislation to allow crypto-currency transactions, Russian banks are exploring opportunities in the global crypto-currency market. Continue Reading
GUEST POST: Forex vs bitcoin: return on investment comparison?
By David Webb, Business Consultant, Sydney, and Contributor to BizzmarkBlog.com. Over the past few years, investing in forex and crypto-currencies has become a lucrative opportunity for people with a limited budget. Unlike some traditional trading methods, these practices allow you to invest a small amount of money and yet generate an outstanding return on investment… Continue Reading
Russia’s Sovcombank buys 11-pct stake in Rosevrobank from EBRD
By Andrei Skvarsky. Russia’s Sovcombank, a universal bank with an extensive nationwide retail network, has enlarged its interest in another Russian lender, Rosevrobank, by buying an 11-per-cent stake in the latter from the European Bank for Reconstruction and Development (EBRD). Continue Reading
Russia’s Sberbank launches trading unit the size of a square in a small town
By Andrei Skvarsky. Russia’s biggest lender Sberbank has launched a huge financial sales and trading unit fitted with cutting-edge technology in its headquarters in Moscow. Continue Reading
Russia’s Sberbank to buy, sell crypto-currency via Swiss subsidiary
By Andrei Skvarsky. Sberbank, Russia’s biggest lender, is making arrangements to launch trade in crypto-currency via its Swiss subsidiary before mid-2018, a senior banker said on January 30. Continue Reading
Helm at Sberbank’s Ukraine subsidiary passes over to Irina Knyazeva
By Andrei Skvarsky. The helm at the Ukrainian subsidiary of Sberbank, Russia’s biggest lender, has been handed to Irina Knyazeva, who has been appointed the subsidiary’s acting chief executive and until now has been deputy chief executive of the Ukrainian bank. Continue Reading
Russia’s contradictory bill: crypto money to be allowed but rouble to remain ‘the sole legal tender’
By Andrei Skvarsky. Russia’s Finance Ministry has written a contradictory draft law on “digital financial assets” which would allow crypto-currencies to be used within Russia for making purchases but would declare that crypto money “shall not be a form of legal tender” within the country. Continue Reading
Investor buys Russian power stations to use them for crypto-currency mining
By Andrei Skvarsky. A Russian private investor has bought two comparatively small power stations in Russia to convert them into facilities for crypto-currency mining. Continue Reading
Bitcoin vs forex trading: understanding the difference
By David Webb, business consultant, Sydney, and contributor to BizzmarkBlog. Since 2008, people have kept a close eye on all cryptocurrencies, bitcoin in particular. Being the flagship of all cryptocurrencies, bitcoin has come a long way since those early days, yet it still hasn’t established itself as other trading methods have. It’s still extremely unstable,… Continue Reading
Russian finance minister beats colleagues by earning $1.42m for 2016 – declaration
By Andrei Skvarsky. Finance Minister Anton Siluanov declared total earnings of 95.44m roubles for 2016 ($1.42m at that year’s average market exchange rate), by far outdoing the other members of the Russian government who had their incomes for 2016 reported on the Finance Ministry website late last month. Continue Reading
Russian Aquaculture raises $17m via SPO co-run by Gazprombank, Otkritie
By Andrei Skvarsky. One of Russia’s main producers of farm-grown salmon and trout, Russian Aquaculture, has announced it has raised more than 1bn roubles ($17m) through a recent second public offering (SPO) co-run by two Russian banks, Gazprombank and Otkritie. Continue Reading
Ex-senior Credit Suisse banker hired by fast-growing Russian hypermarket chain Lenta
By Andrei Skvarsky. A former Credit Suisse chief executive for Russia and the Commonwealth of Independent States, Steven Hellman, has been hired as a non-executive director by Lenta, Russia’s largest hypermarket chain. Continue Reading
Russian Aquaculture sets SPO for Dec 11, aims to raise $34m
By Andrei Skvarsky. Fish-farming company Russian Aquaculture, one of Russia’s main producers of salmon and trout, has scheduled a secondary public offering (SPO) of shares for December 11. Continue Reading
GUEST POST: How to determine whether Gazprom is a good or bad investment
By Nick Hubble, Editor at Southbank Investment Research, a publishing company in London specialising in investment, market trends and technology.* Gazprom is listed on various stockmarkets and trades at an extraordinary discount to its value. The reason is simple: the unpredictable conflicts between Russia and its geopolitical adversaries. Continue Reading
Gazprombank, Otkritie to manage Russian Aquaculture’s SPO
By Andrei Skvarsky. Russian lenders Gazprombank and Otkritie Bank will be the joint global coordinators and bookrunners for a secondary public offering of shares (SPO) to be launched by Russian Aquaculture, a leading Russian salmon and trout farmer. Continue Reading