Financial-industrial groups are making a comeback, but the banks they created are reducing risk by diversifying from related-party business. Meanwhile, the pure banks have also benefited from the economic upturn. Ben Aris reports from Moscow.
Central & eastern Europe
Latest articles from Russia
Prompt action has paid off
December 5, 2005Efforts to overcome the turbulence of 2004 have resulted in a growing economy and a positive outlook.
Options for cutting debt
December 5, 2005Ben Aris reports from Moscow on the increasing trend of using structured products to cope with consolidation.
Back to the futures
December 5, 2005
Futures and options trading in Russia is making a tentative comeback since its curtailment in the wake of the 1998 financial crisis. Ben Aris in Moscow reports.
There are few places in the world where the future is less certain than in Russia, but maturing valuations of Russian stocks means an increasing number of investors are willing to bet on it.
Central bank finds its teeth
December 5, 2005Russia’s central bank has moved out of the Kremlin’s pocket and is starting to regulate the sector aggressively. Ben Aris reports from Moscow.
Rossisky resurrection
November 7, 2005
Rossisky Kredit Bank nearly went under in Russia’s 1998 financial crisis. Ben Aris reports from Moscow on how it weathered the storm and its miraculous comeback as an investment bank.
Rossisky Kredit Bank (RKB) is back from the dead. One of the dozen banks that were household names in the 1990s, but collapsed during the 1998 financial crisis, RKB is the only big Russian bank to have paid off all its debts and returned to profit.
RKB’s recovery is a damning condemnation of its peers, which walked away from billions of dollars in debt and left hundreds of thousands of pensioners destitute after they lost their life savings.
Quality pays off for Gazprombank
November 7, 2005
Investors are falling over themselves to buy bonds issued by Russia’s state-owned Gazprombank. Edward Russell-Walling explains why.
Russian banks are not always synonymous with credit quality. When Gazprombank came to market in September with a 10-year bond, however, the issue was more than six times oversubscribed. There are Russian banks, and Russian banks.
Market rallies out of the blue
October 3, 2005As the Yukos affair fades into a one-off event, both domestic and foreign investors are showing renewed interest in Russian equities and IPOs.
Drive for project finance
October 3, 2005Buoyant bond and stock markets, as well as legal complications, have discouraged project finance growth. But, as Ben Aris reports from Moscow, the sector is predicted to grow swiftly in the near future.
Moscow gets the real estate bug.
October 3, 2005The cranes have arrived. With high oil and gas prices, rising personal incomes and political stability has come the real estate bug.