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

Top 100 banks saved from bankruptcy

Since October 1, 2008, Russian banks have repaid $50 billion worth of loan payments, Finance Minister Alexei Kudrin said at a banking conference in Moscow today.

"Russia's top 100 banks have been saved from bankruptcy," he stated. Describing the overall situation in the country's banking sector, Kudrin said it had stabilized thanks to the Central Bank's efforts. To illustrate his statement, he cited Russia’s international assets and liabilities of approx. $147 billion and $150 billion, respectively. The fact that the figures have come so close to each other is a sign of stabilization, according to the minister.

Vnesheconombank chairman Vladimir Dmitriyev informed the conference members that his bank was prepared to provide an additional RUB 50 billion to RUB 60 billion (approx. $1.5bn to $1.8bn) in subordinated loans to Russian banks. Vnesheconombank has issued RUB 257 billion (approx. $7.6bn) in subordinated loans, which are provided on terms of co-financing by shareholders and on the condition that the funds will be lent to real sector companies.

The Finance Ministry and the Central Bank do not see any point in creating a fund of bad assets, Kudrin said. "We have taken a cautious stand, watching developments on international markets," he explained.

Europe and the United States adopted two different approaches: the U.S. has to set up a fund for problem assets, but in Europe an individual approach is applied to each bank, according to Kudrin.

"The problem of buying bad assets is the problem of the price for bad assets," he said. At this point, the Central Bank and the Finance Ministry see no need for such a fund, preferring instead an individual approach to each bank.

Source: RosBusinessConsulting
Date: 23.06.2009 [226]

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