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BANKING AND STOCK EXCHANGE. FINANCE. ECONOMICS
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Headlines of the latest issue
2012.02.09
OFFICIAL ITEMS
INFORMATION:
The provisions according to which offshore companies are obliged to disclose their incorporators are excluded from the new wording of amendments to the Civil Code
Tatiana Shirmanova "Offshore Companies Released from Responsibility to Disclose Beneficiaries", Marker, February 7, 2012
BANKING AND FINANCIAL SERVICES
ANALYSIS:
The Top-10 banks with the largest card loan portfolio as of the end of 2011 is crowned by Russian Standard Bank as before (its portfolio increased 32% in 2011 to RUR 66.3 billion), according to the research of Frank Research Group. The following banks are Sberbank (up by 2.5 times to RUR 61.6 billion) and VTB24 (up by 36% to RUR 38.1 billion). The Top-10 banks has changed greatly during the year
Business press, February 8, 2012
FORECAST:
"We expect the growth of lending to slow down to 20-25% in 2012," said Ivan Svitek, Chairman of Home Credit Bank's Management Board
"Head of Home Credit Bank Expects Slowdown in Retail Lending in Russia", Banki.ru, February 8, 2012
SECURITIES MARKET
ANALYSIS:
Analysts recommendations on depositary receipts of AFK Sistema vary
Vedomosti, No.22, February 8, 2012, p.9
Analysts of Nomos-Bank held a comparative analysis of investments in MTS and VimpelCom's shares
Elizaveta Sergina "Easy Debts", RBC daily, No.22, February 8, 2012, p.10
VTB to announce buyback scheme from shareholders participating in people's IPO in 2007 in the short run, buyback will be held soon, Head of VTB24 Mikhail Zadornov told Ekho Moskvy
"Zadornov: VTB to Announce BuyBack Scheme Soon", RIA Novosti, February 8, 2012
CREDITS AND INVESTMENTS
ANALYSIS:
Russia's public internal debt including government guarantees amounted to RUR 4.19 trillion as of January 1, 2012, the Finance Ministry of Russia reported on February 7
Vadim Visloguzov "Public Internal Debt Nearly Trebled for Three Years", Kommersant, No.22, February 8, 2012, p.6; RIA Novosti, "Public Internal Debt Increased Greatly", Novye Izvestia, No.20, February 8, 2012, p.3
Federal State Unitary Enterprise Russian Post announced a search of a financial company in Europe which will be interested in providing loans repayable over a period of 5 years and 10.5 years. Total loan will be EUR 49.894 million, or RUR 1.968 billion at the current exchange rate of the Bank of Russia
Anna Lyalyakina "Russian Post to Borrow Almost EUR 50 mln from Foreign Banks", Marker, February 7, 2012
ECONOMY
ANALYSIS:
Real income of the population has been increasing slightly over the past few months, says Rosstat. According to Romir Holding, about 44% of residents are sure that their income has increased over the past six months. 9% of respondents say the increase was "rather substantial". The paradoxical difference between the official statistics and interview results may be explained by the fact that Russian residents confused the growth of income in nominal and real, inflation-adjusted terms
Anastasia Bashkatova "Russians Got the Impression of Better Living", Nezavisimaya Gazeta, No.18, February 3, 2012, p.4
Description:

This digest gives you facts and analyses based on surveying virtually all the Russian national press. It contains the views of Russia's outstanding financiers, business people, economists and political figures and official information (business conferences, visits, statements, etc.). The digest includes sections covering banking and exchange activities, securities markets and investment updates, economic and financial news from the Russian press. English and Russian.

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