trending Market Intelligence /marketintelligence/en/news-insights/trending/w1gNFeLed9jNFFtuJm6F0w2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

Reports: VEB mulls sale of 2 bank units in H1'17

Banking Essentials Newsletter December Edition Part 2

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery

Reports: VEB mulls sale of 2 bank units in H1'17

President SergeyGorkov expects the sale of VEB units Interregional Bank for Settlements of the Telecommunications & PostalServices and GLOBEXCommercial Bank JSC to be completed in the first half of 2017, reported Sept. 30.

Theexecutive noted that interested parties could finish their due diligence of thetwo VEB units in November, with a short list of potential buyers being drawn upin 2017.

Theplanned sale is part of measures aimed at improving the financial position of the lender.

Gorkovalso expects VEB to end both 2016 and 2017 in the red, although 2016's losswill be lower than initially expected, news agency Prime reported the same day.The bank posted an IFRS net loss of 82.8 billion Russian rubles for the firsthalf of 2016.

As of Sept. 29, US$1 wasequivalent to 63.12 Russian rubles.