Global Banking Directory
Press Release Distribution Service
Add Bank | Banking Forum | Scam emails!
Advertise Your Business Here
  • LendingUP! Turning Loans Around
  • IFINTEC Finance Technologies Conference and Exhibition, 21-22 April 2020
  • Advertise With Us!
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
 Banks may need political help to survive Big Tech

First there was the financial crisis of 2008. Then years of negative interest rates. Now, banks face what one financial regulator calls the "real game changer." 09.12.2019 | Source: Bloomberg

 Trump blasts Bitcoin, Libra, demands they face banking regulations

U.S. President Donald Trump on Thursday criticized Bitcoin, Facebook's proposed Libra digital coin and other cryptocurrencies and demanded that companies seek a banking charter and make themselves subject to U.S. and global regulations if they wanted to "become a bank." 11.07.2019 | Source: Reuters

 25th World Islamic Banking Conference announces 4th series of WIBC Leaderboard

Top performing Islamic Financial Institutions from Bahrain, Egypt, Indonesia, Jordan, Kuwait, Malaysia, Oman, Pakistan, Turkey, UAE and Saudi Arabia are vying for the WIBC Awards recognizing the Best Performing Banks at the Global and Regional level. 28.10.2018 | Source: MEGA

 Financial technologies are need of the hour for Banks in India

The Indian FinTech space is expected to reach $2.4 billion by 2020 and 2018 will be a critical year in that journey because 52 % of India's digitally active consumers are adopting FinTech and are the driving force for new technology adoptions. 02.03.2018 | Source: Explore Exhibitions and Conference

 International Banking Exhibition and Conference will be held in Baku

"Digital Banking and Security" titled International Banking Exhibition & Conference will be held in Baku on 17-18 of April, 2018 by FA International Trade Events. 07.02.2018 | Source: FA International Trade Events

 📰 News Archive

2019 © Global Bank Directory | Rus