INTERFAX - Russia & CIS Banking and Finance news report of 08.05.2008

Medvedev sworn in as president, Putin approved as prime minister

ANALYSIS

Russia’s annual inflation rates could start receding in June, but will top 11% in 2008 – analysts

REPORT

Global investment banks bullish on ruble

Russia, EU seeing similar trends in food inflation – Rosstat

FINANCIAL POLICY

Strategic financial planning department set up at Finance Ministry

City of Moscow to offer 5.5 bln rubles in bonds at May 14 auction

OFFICIAL COMMENTS

CBR official: foreign bank buy recommendation for ruble may be self-interest

Russian ministry not expecting major jump in inflation in May

Econ Ministry expects state cos to borrow less abroad

STATISTICS

Russia had 1.4% inflation in April, slightly above forecast

Russia had 0.2% inflation for May 1-5 – Rosstat

Economic Ministry approves increase to 2009-2011 inflation forecast of 0.5-1 percentage points

EC forecasts 7,.5% Russian GDP growth in 2008-2009, inflation to stay high

Russian int’l reserves grow 5.4% to $534.4 bln in April – CB

Russian foreign debt shrinks by $800 mln to $44.1 bln in Q1 - MinFin

Budget gets over 1 trln rubles in oil, gas windfall revenue in Feb-Apr

Reserve Fund totals $129.8 bln on May 1 – Finance Ministry

Russian ruble strengthens 2.3% in Jan-April

Federal customs revenue 11% above target in April

Russian banks boost Q1 pretax profit 15%

Russian banks boost assets 6% in Q1

Retail deposit growth slows by half in Q1

RUSSIAN BANKS

SHAREHOLDER STRUCTURE

Mikhail Shishkhanov calls off deal to sell B.I.N.Bank

LOANS

Russia’s Rosbank raising $125-mln syndicated loan

INVESTMENT

Alfa-Bank disposes of TGK-12 genco stake

FINANCIAL INSTRUMENTS

Rosselkhozbank to begin road show for $1-bln Eurobond issue in mid-May

FINANCIAL RESULTS

Russia’s Rosbank boosts IFRS net profit 61% to 6.17 bln rubles in 2007

VTB boosts RAS net profit 38% to 6.6 bln rubles in Jan-Apr

Bank St. Petersburg ups assets 10% in Q1

MBRD ups net profit 142% in 2007

CENTRAL BANK

50 bln rubles up for grabs at May 13 budget funds auction

Russian foreign trade surplus grows 72% to $49.855 bln in Q1 – Central Bank

Central Bank eyes potential to increase yields, but remains conservative

Russian Central Bank confirms its accounts unfrozen in second French bank

NONBANK FINANCIAL INSTITUTIONS

Rosgosstrakh chief values company at $1.5 bln – Vedomosti interview

FOREIGN FINANCIAL INSTITUTIONS

Kotova to stay as Russian director on EBRD board

TRENDS

DOLLAR CONTINUES TO RECOVER

OFZ BOND QUOTES REMAIN STEADY

RUSSIAN EUROBOND QUOTES CONSOLIDATE

RECORD HIGH OIL AIDS SHARE PRICE SURGE

Results Of Russian Stocks Trading In Russian Trading System

STOCK INDEXES

CIS AND THE BALTIC

UKRAINE

Ukraine posts highest inflation among CIS countries in Q1

Ukraine had 3.1% inflation in April – Statistics Committee

Tymoshenko reports inflation slowdown

Price growth in Ukraine is terrifying – Yushchenko

Ukrainian cabinet unable to cope with inflation - Yushchenko aide

Ukrainian National Bank: government spending fueling inflation

National Bank of Ukraine boosts international reserves 0.33% in April

Ukraine budget surplus declines to 0.7 bln hryvni in Jan-Apr

Ukraine’s VTB Bank, OTP Bank and Alfa-Bank post highest asset growth in Q1

Raiffeisen Bank Aval could raise $100 mln syndicated loan

BELARUS

Belarusian state debt edges lower 0.1% in Q1

National Bank of Belarus boosts gold sales 340% in Jan-Apr

KAZAKHSTAN

Kazakhstan’s gold and currency reserves up 3.9% in April

Kazakhstan sees 0.9% inflation in April

ATFBank raises $500 ml syndicated loan

Nurbank’s assets up 14.2% in Q1

UZBEKISTAN

Uzbekistan’s Ipoteka-Bank raises IFRS assets 14% in 2007

GEORGIA

S&P revises Georgian govt’s outlook to stable from positive, affirms ’B+’ rating

Georgian commercial banks boost assets 12.2% in Q1

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