Business Watch
Sberbank of Russia has completed its first London Investor Day.
Moscow police have charged a former banker of unlawful bankruptcy leading to losses of 5.7 billion rubles ($190 million), the city’s Interior Ministry branch reported on Thursday.
Sberbank of Russia and Agricultural Bank of China have signed a Memorandum of Understanding today. Herman Gref, CEO and Chairman of the Board of Sberbank and Zhang Yun, President of Agricultural Bank of China signed the document.
The president of Gazprombank, the Russian energy giant’s banking arm, is among individuals who pulled their money from the troubled Laiki Bank just days before Cyprus agreed a “haircut deal” with international lenders, The Financial Times said on Wednesday, citing local media.
Russia's Finance Minister slammed excessive interest rates on loans offered by Russian banks to consumers and enterprises, in an address to the Association of Russian Banks’ annual congress in Moscow on Wednesday.
Former Economics Minister Elvira Nabiullina, nominated by President Vladimir Putin to head the country’s Central Bank, said on Wednesday Russia needed to rethink its model for growth amid the current global economic uncertainty and mounting problems in the eurozone.