trending Market Intelligence /marketintelligence/en/news-insights/trending/NiNXPOiUUKRH60ms_HQ6aA2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In this list

Report: Promsvyazbank eyes another capital boost from Russian state

Street Talk Episode 56 - Latest bank MOE shows even the strong need scale to thrive

South State CenterState MOE Shows Even The Strong Need Scale To Thrive

Talking Bank Stocks, Playing The M&A Trade With Longtime Investor

Report: Kashkari Says Fed In Holding Pattern But Rate Cut Still Possible

Report: Promsvyazbank eyes another capital boost from Russian state

Russian authorities plan to provide a 50 billion Russian ruble capital injection for PAO Promsvyazbank, with the funds to be allocated over the next three years, starting from 2019, news agency Prime reported March 13.

Russian Deputy Finance Minister Alexei Moiseev said the transfer of Interregional Bank for Settlements of the Telecommunications & Postal Services, or Sviaz-Bank, to Promsvyazbank, which is being considered by Russian authorities, could count as part of the planned capital boost for the latter, if it also includes Sviaz-Bank's capital. Moiseev said, however, that a formal decision on the potential takeover of Sviaz-Bank by Promsvyazbank has not yet been made.

Promsvyazbank was taken over by the Russian central bank in December 2017, and the government later said the lender will focus on servicing Russian defense sector companies to shield other local lenders from Western sanctions. In 2018, Promsyvazbank received a 25 billion ruble capital boost from Russia's federal budget, Prime reported.

As of March 20, US$1 was equivalent to 64.34 Russian rubles.