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Overview of Russian Financial News
1 March 2007
Overview of Russian Financial News

Overview of Russian Financial News

This month has seen several interesting developments in Russian finance news. In preparation for our Financial Markets Conference in May, we've prepared the following brief overview for our readers.  

Russia's Banks
The demand for Russian banking stocks is high as revealed by Sberbank's IPO. Sberbank is Russia's largest bank

Sberbank's IPO to Have Positive Effect on Russian Stock Market
The banking sector is very likely to see a rise in liquidity.

Plastic Boom in Russia
The number of plastic cards in Russia increased by 36.8 percent last year to 74.5 million, and the number of plastic card transactions climbed 51.7 percent to 4.25 trillion, the Central Bank of Russia has reported.

Is Russia Headed for a Banking Crisis?
The problem of unpaid consumer loans in Russia has been a topic of discussion for some time now. Recently, however, it has begun to attract even greater attention.

Russia Loses $19-30 Bln a Year from Fictitious Banking Deals
Russia's consolidated budget loses 500-800 billion rubles ($19-30 billion) a year from fictitious banking operations, the chairman of the Russian Central Bank said Tuesday.

Prosecutors Continue Probe on Alleged Central Bank Corruption
Russia's top prosecutors will continue to question a banker charged with ordering the murder of a senior banking regulator, over his allegations of corruption in the Central Bank, a defense lawyer said Tuesday.

Did Frenkel Kill The Reformer?*
You may remember Frenkel as the scrawny 36-year-old banker nabbed for the hit on Andrei Kozlov, the second-in-command at the Central Bank of Russia (CBR).
*This page, from the eXile, may contain material some readers may find offensive. As is the style of the eXile, very interesting investigative reporting is sometimes featured on the same page as more sophomoric material.

And in other news... 

Russia: 24-Hour Business News FM Radio Launched in Moscow
"This is a new format of a talk radio - a round-the-clock broadcasting which will fully inform the targeted audience on the most important economic and business news."

New Development Model for Russia
United Russia that the party's task "is to slip neatly off the administrative stocks and sail free." But the author has no doubt that "the leading political party" will resolve this task "in the next 2-3 years."

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