Global Banking Directory
Press Release Distribution Service
Add Bank | Banking Forum | Scam Alerts!
Earn up to 36% APY on cryptocurrency deposits!
BanksDaily Twitter BanksDaily FaceBook BanksDaily LinkedIn

Financial and Banking News

Russia's central bank will reduce its stake in Sberbank to 50% plus one voting share

Russia's central bank is selling 7.58% of Sberbank, the country's largest lender, as the government seeks to reduce its role in the economy.

Bank of Russia is offering the equivalent of 1.71 billion shares in ordinary and global depositary stock at a range of 91 rubles to the market price at the time the order book closes, the Central bank and Sberbank said in a statement today. A sale at the low end of the range would raise 156 billion rubles, or $5.1 billion at the current exchange rate.

The sale will be priced in rubles and dollars, with as much as 15% of the stock being sold through the Micex Stock Exchange and the rest going to institutional investors. Sberbank said it may acquire the equivalent of 20 billion rubles of ordinary shares in the offering at the same terms as other investors.

Russia's government is seeking the sale as part of its plan to raise 1.5 trillion rubles through 2015, according to the Finance Ministry. Central bank's stake in Sberbank will fall to 50% plus one share after the share sale.

Sberbank shares rose 4.6% to 96.99 rubles in Moscow on Sept. 14, valuing the company at about $69 billion. Credit Suisse Group AG, Goldman Sachs Group Inc. (GS), JPMorgan Chase & Co. (JPM), Morgan Stanley (MS) and Troika Dialog, a unit of Sberbank, are managing the sale, according to the statement.


Date: 17.09.2012 [329]

Financial and Banking News
 JPMorgan becomes first major bank in the metaverse, opens lounge in Decentraland

JPMorgan has become the world’s first bank to set up shop in the metaverse. The largest bank in the US has opened a lounge in the blockchain-based world Decentraland.

 5 Tips to Make You Stay On Your Holiday Budget

Budgeting, in general, is a challenging task. We tend to go astray with our budgeting and end up overspending instead. The challenge of budgeting becomes more complicated during the holiday season when sales are everywhere.

 Public-Private Partnership project value exceeds US$223 bn in MENA as delegates gear up to discuss opportunities at the PPP MENA Forum

As many as 242 public-private partnership projects worth US$223 billion (Dh818 billion) are under development in the Middle East and North Africa region, according to recent reports, which is set to go up as project execution picks up with return to normalcy and higher oil price that will fuel economic growth in the Middle East – pushing public-private partnership sector. 07.01.2022 | Source: Great Minds Event Management

 UK bank bans cryptocurrency amid fraud concerns with Binance and Kraken

TSB Banking Group Plc. is set to ban more than 5 million customers from buying cryptocurrencies amid fears over "excessively high" fraud rates on trading platforms, according to a report by the U.K.’s Telegraph newspaper.

 How Women Can Impact the Middle Eastern Financial Industry: Layal Haykal Success Story

We’re in the 21st century and women are still mistreated in some parts of the world. Their rights are violated. They don’t have the opportunity to work on equal terms with men. They’re being kidnapped and sold no matter their age. This phenomenon is highly prevalent in the Middle East. The world is evolving from globalization to technological innovations while women there are still repressed and exploited. The same image women had several decades ago hasn’t changed heavily in our present times.

 📰 News Archive
Get your content published on BanksDaily.com with the PrNews platform in just a few clicks.

2007-2022 © BanksDAILY.com | Donate