INTERFAX - Russia & CIS Banking and Finance news report of 25.04.2008

Russian inflation will go unchanged in 2008 unless authorities implement effective measures - IMF

Foreign investment quota in insurance sector could be exhausted by end of 2009 - experts

Idea of regional currencies should be scrutinized, say CIS senior bankers

FINANCIAL POLICY Finance Ministry places 17.625 bln rubles at 7.25% in deposit auction

For first time, Central Bank buys gold from producers – source

OFFICIAL COMMENTS

Russia’s Central Bank could raise interest rates in H1 – Ulyukayev

Russian monetary authorities ready to funnel banks with liquidity in place of foreign borrowing – Minfin

Idle budget funds could be deposited at banks for 3-4 mths – ministry

Banks have enough liquidity to perform usual functions – Kudrin

Economics ministry does not see sense in extending freeze on food prices

Economic Development Ministry to insist on cutting VAT to 12% - deputy minister

Around 1,000 Russian companies have potential for capitalization of $1 bln - Ministry

STATISTICS

Russian GDP up 7.8% in March – Nabiullina

Russian producer prices grow 0.7% in March as analysts predict

Russian core sector growth accelerates to 8.2% in March

Real incomes grow 7.8% in March - Rosstat

Russian investment in fixed assets up 20.2% in March, beating forecasts – Rosstat

Tax collection in January-March 2008 up by 16.7% to 787 Bln rubles – Federal Tax Service

Russian intl reserves up $7.0 bln to $518.8 bln in week to April 18

Russia posts 1.1% inflation from April 1-21 – Rosstat

Russia posts capital inflow in April – Central Bank

Growth in Russian money supply slows to less than 40% in mid-April

Russian M&A market rose 61% in 2007 - PwC

Russian regional budgets get extra 350 bln rubles from Q1 economic growth

RUSSIAN BANKS

MERGERS & ACQUISITIONS, REGIONAL DEVELOPMENT

VTB could soon receive license to work in Tajikistan

Conversbank Financial Group finalizes merger of four Russian banks

SHAREHOLDER STRUCTURE

Uralsib Bank denies talks on sale of controlling stake to Gazprombank

Nomos Bank shareholders investing 5 bln rubles in bank

Fintest Holding boosts stake in Kreditprombank from 29% to 38%

LOANS

Promsvyazbank raises $175 mln loan at LIBOR+1%

INVESTMENT

Sberbank investing 1 bln rubles in automotive assembly plant in Caucasus

VEB board approves participation in 15 projects worth 271.5 bln rubles - Zubkov

FINANCIAL INSTRUMENTS

Bank of Moscow prepares open placement of 5.4% of shares

URSA Bank able to place 62% of eighth series bond issue for 6.2 bln rubles

MBRD to start placing 3 bln rubles in bonds on April 29

HCF-Bank fully places 4 bln rubles in bonds with yield at 13.1%

URSA Bank’s 1.5 bln ruble 6th series bond issue reaches maturation

FINANCIAL RESULTS

Russian monetary base up 51.1 bln rubles to 4.17 trln rubles on April 21

Russian money supply grows 2.3% to 13.383 trln rubles in March - CB

APPOINTMENTS & RESIGNATIONS

Central Bank purchases around $20 bln in order to ruble rate stable

Central Bank of Russia approves East Capital’s acquisition of 20% stake in FIA-Bank

VEB settled $4 bln in bank liabilities to the federal budget in 2003-2007

VEB calls for creation of insurance agency for export loans, investments

Sberbank boosts net profit 39% to 36.13 bln rubles in Q1

Sberbank to publish 2007 IFRS financials April 30

CENTRAL BANK

Ural Bank of Sberbank boosts assets 10% in Q1 2008

Promsvyazbank boosts assets 13% to 328.4 bln rubles in Q1

VTB Northwest boosts IFRS assets 41% in 2007

UBRD boosts assets 17% in Q1

GE Money Bank to boost loan portfolio 70% to $1.2 bln in 2008

Uraltransbank boosts assets 4.4% in Q1

Uraltransbank could boost dividends on common shares for 2007 by 29%

Sergei Degtyarev named Rosbank deputy CEO

KIT Finance’s deputy general director to head bank’s investment banking section

SHAREHOLDER & BOARD MEETINGS

VTB supervisory board to mull 2007 dividend payments on April 28

INSURANCE SECTOR

Severnaya Kazna Insurance Company admits independent director to board

RATING ACTIONS

Fitch upgrades Credit Bank of Moscow’s IDR to ‘B’ with Stable Outlook

Fitch rates Novosibirsk region’s 1.9-bln ruble bond issue ’AA-(rus)’

NONBANK FINANCIAL INSTITUTIONS

Govt to ask watchdog to look at PPF’s purchase of Ingosstrakh stake

LEGAL

Duma approves placement of Housing Fund money at banks

TRENDS

DOLLAR CORRECTS UP LAST WEEK

OFZS POST VARYING QUOTATIONS FOR APRIL 22-25

RUSSIAN FOREX BONDS MARKET LACKS COMMON TREND

STOCK MARKET ROLLS BACK LAST WEEK

STOCK INDEXES

CIS AND THE BALTIC

UKRAINE

National Bank of Ukraine to raise base interest rate to 12% on April 30

NBU boosts assets 5% in Q1 2008

Ukraine challenged by highest inflation in 7-8 years – Yushchenko

Rada estimates capital flight in Ukraine at $50 Bln - $80 Bln

Ukraine central bank denies shortage of hryvni

Kuchma blames Orange coalition for soaring inflation

Ukreximbank boosts assets 7.2% in Q1

Ukrprombank pays off $33 mln syndicated loan

Prominvestbank boosts assets 8.5% in Q1 2008

Privatbank boosts assets 8% in Q1 2008

Alfa-Bank Ukraine approves 29% charter capital increase

IFC opens $75 mln loan facility to International Mortgage Bank

BELARUS

Belarusian budget surplus at 7% of GDP in Q1

Belarusian GDP to grow 8%-9% in 2009 under optimistic forecast

Gazprom, Gazprombank quadruple Belgazprombank’s charter capital

KAZAKHSTAN

National Bank of Kyrgyzstan reduces reserves 3.1% in Q1 2008

Fitch: Kazakh banks’ asset quality shows negative trend, disclosure opaque

Alliance Bank lowers assets 1.7% in Q1 2008

UZBEKISTAN

Uzbek GDP up 8.1% in Q1

Uzbek banks boost assets 4% in Q1

Alokabank doubles IFRS assets in 2007

TAJIKISTAN

Tajikistan, Belarus and Armenia could become EABR members this year

Tajikistan’s foreign debt jumps 40% in 1 yr

AZERBAIJAN

Fitch assigns Azerbaijani Technikabank’s upcoming Eurobond expected ‘B-’ rating

Nb: This news report features only the headline of each news