Interfax: Russia & CIS Banking and Finance news report of 19.06.2009

Weekly news:

OPINION

Some banks bound to go under, systemic crisis not in prospect – Gref

Sberbank to inevitably be present on western markets in future – official

FINANCIAL POLICY

Putin signs off on final version of anti-crisis program

Putin inks 20-bln ruble increase in Mortgage Lending Agency charter capital

OFFICIAL COMMENTS

SCO should be more active in use of national currencies for settlements – Medvedev

Low priority budget spending to be cut in 2010-2012 – Putin

IMF countries have collected over $400 bln to boost fund’s resources – Kudrin

Positive signals in global economy not beginning of recovery - Kudrin

Ulyukayev: critical level for overdue loans - 25%-30%

STATISTICS

Russia had 0.1% inflation in June 9-15; 7.1% in year so far – Rosstat

Econ Ministry forecasts 0.5%-0.6% inflation for June

Russian Econ Ministry to submit adjusted forecasts June 27

Jobless in Russia down for first time in a year in May – Rosstat

CENTRAL BANK

Central Bank issues license to Sumitomo Mitsui subsidiary

Central Bank reduces charter capital of Bank Rossiysky Capital to 1 ruble

Central Bank revokes license of Sootechestvenniki bank

Central Bank extends reserving exclusion for rescued banks

Central Bank loans banks 0.64 bln rubles at twelve-month repo auction

Central Bank to offer banks 95 bln rubles in unsecured loans on June 22-23

Russian banks get 159 bln rubles at 3-mth loan auction; cut-off rate – 13.5%

Russian banks get 15.3 bln rubles at five-week loan auction; cut-off rate at 13.25%

RUSSIAN BANKS

SHAREHOLDER STRUCTURE

RZD acquires 53.95% of KIT Finance

LOANS

China Development Bank opening $1-bln credit line for Russia’s VEB

INVESTMENT

Sberbank buys 10% of Global Ports Investments

VEB becomes major Lukoil shareholder

KIT Finance to sell Deposit Insurance Agency 30% stake in Rostelecom for 50.3 bln rubles

FINANCIAL INSTRUMENTS

VTB puts Eurobond plans on hold over unfavorable terms

VTB-Leasing fully places 10 bln rubles in bonds

VTB24 places entire debut MBS offering

HCFB fully placed 5 bln rubles in sixth-series bonds

HCFB buys $80 mln worth of own LPN in Q1

Russian Standard Bank buying back two issues of LPN for $121 mln

FINANCIAL RESULTS

HCFB reduces net profit by 67% in Q1

MDM Bank sees IFRS earnings tumble 58.4% to 313 mln rubles in Q1

RATING ACTIONS

S&P takes negative rating actions on 11 Russian banks

Fitch Rates Russian Agricultural Bank’s Senior Eurobond Final ’BBB’

S&P upgrades Moscow Regional Investment Trust Co. to CC/ruCC on bond restructuring

NONBANK FINANCIAL INSTITUTIONS

Russia to allow secondary trading of state securities on all exchanges in 2010

Moscow to hold two auctions for the placement of 35 bln rubles in bonds on June 24

St. Petersburg plans to place 10 bln rubles in bonds in autumn

AHML to give banks loans to finance housing construction

EBRD approves five-year loan of $150 mln for Russia’s Troika Dialog

FOREIGN FINANCIAL INSTITUTIONS

EBRD fully places 3 bln rubles in fourth-series bonds

TRENDS

Dollar gains for week of June 15-19, possibility for further growth open

OFZ prices drop, investor activity remains low

Russian Eurobond prices plummet, spread widens

RUSSIAN STOCK MARKET TUMBLES 10% LAST WEEK

RESULTS OF RUSSIAN STOCKS TRADING IN RUSSIAN TRADING SYSTEM

STOCK INDEXES

CIS AND THE BALTIC

UKRAINE

Ukraine lowers discount rate to 11%

Swedbank to unite two Ukrainian subsidiaries by year’s end

BNP Paribas ups stake in UkrSibbank to 75.5%

BELARUS

Belarus expects zero GDP growth in 2009 and 2010

Belarusian foreign debt grows 7.7% in Q1

UZBEKISTAN

Moody’s assigns B1/NP/E+ ratings to Uzbekistan’s Asaka Bank, stable outlook

TAJIKISTAN

IMF hails Tajik anti-crisis measures

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

Agency Interfax