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Russia

Minister announces financial support for small businesses in 2005

“The programme of support for small business will be started in 2005,” Andrei Sharov of the Ministry of Economic Development and Trade said. According to Sharov, the project is aimed at the development of micro-financing institutes. "Our task is to...

#bank#bank loan#interest rates

Central bank approves share capital increase for National Factoring...

On October 27th the Central Bank of Russia approved the increase in the share capital of the National Factoring Company…

#bank#insurance#investment


EBRD to invest up to US$1.5bn in Russian SMEs

The European Bank for Reconstruction and Development (EBRD) is ready to invest up to US$1.5bn in Russian small- and medium-sized…


Credit inquiries could hit 5 m annually in Russia...

The new Experian Interfax credit bureau could receive some 5 million credit inquiries per year, said John Hadlow, commercial manager…


Foreign investment in Russia reach US$66 bln

Cumulative foreign investment in the Russian economy was US$66 billion as of July this year, Prime Minister Mikhail Fradkov said…


Experian arrives in Russia

With credit comes a credit history and Russia's booming consumer lending sector saw the first high-profile arrival of a Western…


EEFE President reports on Russia’s factoring industry

Mikhail Treyvish, President, East European Factoring Association (EEFA) and Chairman, Uralsib-NIKoil, analyses the Russian factoring industry and future trends. Read…


VTB raises over Ђ27m from German bank

Vneshtorgbank (VTB) has raised more than Ђ27 million under a 6.5-year credit agreement with AKA Ausfuhrkredit-Gesellschaft mbH for long-term import…

#bank#banks#Deutsche Bank


Central Bank revokes bank’s licenses

The Central Bank has revoked the licenses of Promeximbank, the Commercial Savings Bank (KBC bank), and Moszhilstroibank, CB officials confirmed.…


Russian central bank decision on refinance rate

The Russian Central Bank is reducing its refinance rate from 14 per cent to 13 per cent from 15 June.…


Coface and the Association of Russian Banks sign agreement

The Association of Russian Banks and Coface are joining forces to provide small- and medium-sized Russian companies (SMEs) with a…


IBG NIKoil factoring turnover topped $380m in 2003

Nikoil Financial Corporation president Nikolai Tsvetkov said IBG Nikoil turnover on factoring operations topped $380 million last year. He added…

NIKoil at forefront of banking consolidation

Consolidation among Russia's biggest banking institutions is starting to take place as bankers realise that organic expansion will not provide…

#acquisition#bank#banks

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