Banking in Russia

PAO Severstal: Severstal announces the completion of automatic conversion of its GDRs

Retrieved on: 
Friday, September 2, 2022

PAO Severstal (MOEX: CHMF) announces that according to the information published by the National Settlement Depositary on its official website ( https://www.nsd.ru/faq/auto_conv/ ), the automatic conversion of global depositary receipts representing ordinary shares of PAO Severstal (ISIN US8181503025, ISIN US8181501045, together GDRs) pursuant to the procedure contemplated by Federal Law No.114-FZ dated 16.04.2022 and related Russian regulations was completed on 26 August 2022.

Key Points: 
  • PAO Severstal (MOEX: CHMF) announces that according to the information published by the National Settlement Depositary on its official website ( https://www.nsd.ru/faq/auto_conv/ ), the automatic conversion of global depositary receipts representing ordinary shares of PAO Severstal (ISIN US8181503025, ISIN US8181501045, together GDRs) pursuant to the procedure contemplated by Federal Law No.114-FZ dated 16.04.2022 and related Russian regulations was completed on 26 August 2022.
  • Automatic conversion was effected in respect of GDRs held with the Russian depositaries as of 22 August 2022.
  • We also note that GDR holders holding their GDRs with foreign custodians are still entitled to apply for direct conversion of their GDRs.
  • We also recommend that such GDR holders promptly contact the Depository of PJSC Sberbank to clarify the procedure and details of such conversion.

VK to acquire 100% of Delivery Club and exit the O2O Holding joint venture

Retrieved on: 
Tuesday, August 23, 2022

Its products help millions of people with their day-to-day needs online.

Key Points: 
  • Its products help millions of people with their day-to-day needs online.
  • The company provides a number of solutions for digitizing business processes, from online promotion and predictive analytics to corporate social networks, cloud services and enterprise automation.
  • Holding almost one-third of aggregate Russian banking sector assets, Sberbank is the key lender to the national economy and one of the biggest deposit takers in Russia.
  • Official websites of the bank: www.sberbank.com (Sberbank Group website), www.sberbank.ru .

PAO Severstal: Severstal informs about submission of a notification for automatic conversion of GDRs

Retrieved on: 
Monday, August 15, 2022

Dissemination of a Regulatory Announcement that contains inside information in accordance with the Market Abuse Regulation (MAR), transmitted by EQS Group.

Key Points: 
  • Dissemination of a Regulatory Announcement that contains inside information in accordance with the Market Abuse Regulation (MAR), transmitted by EQS Group.
  • The issuer is solely responsible for the content of this announcement.
  • PAO Severstal (MOEX: CHMF; LSE: SVST) informs that, in accordance with Federal Law No.
  • For questions related to the conversion, investors should contact the following contacts: tel.

Trust Bank Reaches 99.4% of Its Asset Recovery Target

Retrieved on: 
Thursday, February 17, 2022

The Bank of Non-Core Assets Trust (BNA Trust), which manages the non-core and distressed assets of major banks that were financially rehabilitated by the Russian Central Bank between 2017 and 2018, is on track to meet its asset recovery target two years earlier than planned.

Key Points: 
  • The Bank of Non-Core Assets Trust (BNA Trust), which manages the non-core and distressed assets of major banks that were financially rehabilitated by the Russian Central Bank between 2017 and 2018, is on track to meet its asset recovery target two years earlier than planned.
  • In 2021 alone, BNA Trusts asset recovery totalled RUB 110 billion, which represented 126% of its target for that year.
  • Almost 90% of all returns came from settlement and asset management, and only 10% from judicial recovery.
  • The Bank of Non-Core Assets Trust (BNA Trust) is a Russian financial institution established by the Bank of Russia as part of the rehabilitation of the countrys banking system.

Sber alters organizational structure to implement Strategy, announces changes in the management team

Retrieved on: 
Tuesday, February 15, 2022

Sber alters organizational structure to implement Strategy, announces changes in the management team

Key Points: 
  • Sber alters organizational structure to implement Strategy, announces changes in the management team
    Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
  • Sber alters organizational structure to implement Strategy, announces changes in the management team
    In the framework of the implementation of its Strategy, Sber has decided to make changes to its organizational structure that will enhance client centricity.
  • Unified asset management will ensure a better customer experience, create significant synergy, and strengthen Sber Group's position in the fast-growing e-com industry.
  • Kirill Tsarev joined the Sberbank team in 2011 as deputy CEO of Sberbank Leasing, which he soon led.

Top Russian Colocation Provider IXcellerate Closes Latest Round of Funding to Accelerate Expansion Plans

Retrieved on: 
Tuesday, January 25, 2022

IXcellerate already offers world-class data center facilities and outstanding connectivity level in Russia to cater to both local enterprises and global corporations across multiple industries.

Key Points: 
  • IXcellerate already offers world-class data center facilities and outstanding connectivity level in Russia to cater to both local enterprises and global corporations across multiple industries.
  • As one of the largest carrier-neutral commercial data center operators in Russia, IXcellerate is enabling digitalization in Russia through unrivaled scalability and growth opportunities.
  • IXcellerate has a successful record in developing and managing state-of-the-art data centers in Russia.
  • The company is well-positioned to continue growing as a leading colocation and data center operator; directly enhancing Russia's digital infrastructure.

Sberbank: ​​​​​​​One thousand key employees to become Sber shareholders

Retrieved on: 
Wednesday, December 29, 2021

On the year of Sberbank's 180th anniversary, the board has decided to launch long-term stock option programs to motivate its most effective employees.

Key Points: 
  • On the year of Sberbank's 180th anniversary, the board has decided to launch long-term stock option programs to motivate its most effective employees.
  • In the first cycle of the program, 1,000 key employees - from experts to vice presidents - will receive part of their remuneration in Sber shares.
  • Long-term motivation programs for employees that have a key impact on the overall performance will facilitate the implementation of Sber's ambitious goals outlined in Strategy 2023.
  • The launch of the first program cycle will not require the purchase of Sber shares from the market, as existing shares in Sber Group will be used.

Russian Standard Bank clients now can transfer money to the cards of UnionPay Payment System

Retrieved on: 
Tuesday, December 21, 2021

MOSCOW, Dec. 21, 2021 /PRNewswire/ -- Russian Standard Bank made it possible for its clients to transfer money to UnionPay cards.

Key Points: 
  • MOSCOW, Dec. 21, 2021 /PRNewswire/ -- Russian Standard Bank made it possible for its clients to transfer money to UnionPay cards.
  • Now it is easy and simple to send money to cards of UnionPay Payment System through Russian Standard Mobile bank or Internet bank.
  • A new convenient service for cross-border fund transfers to UnionPay cards is available to cardholders of any Issuing bank of any Payment System on the website of Russian Standard Bank and RS Express .
  • For Russian Standard Bank cardholders, the transfer is also available via the Mobile bank or Internet bank.

TCS Group Holding PLC reports record profit for the period in 3Q'21 and 9M'21

Retrieved on: 
Wednesday, November 24, 2021

In 3Q'21 non-credit revenue represented 45% of the Group's revenue and 21% of the Group's profit before tax.

Key Points: 
  • In 3Q'21 non-credit revenue represented 45% of the Group's revenue and 21% of the Group's profit before tax.
  • The Group reported a healthy quarterly net profit of RUB 16.5 bn in 3Q'21 (3Q'20: RUB 12.6 bn), supported by new customer acquisition and monetisation.
  • As of 1 October 2021, Group MAU stood at 13.7 mn, Group DAU stood at 4.8 mn.
  • Total carbon footprint of the Group is significantly lower than traditional financial institutions and IT companies generally show.

First Flutter-Powered Mobile Banking App in Europe

Retrieved on: 
Friday, November 12, 2021

NEW YORK, Nov. 12, 2021 /PRNewswire-PRWeb/ -- Rosbank Business is a banking app created by Rosbank for their corporate clients.

Key Points: 
  • NEW YORK, Nov. 12, 2021 /PRNewswire-PRWeb/ -- Rosbank Business is a banking app created by Rosbank for their corporate clients.
  • We did a really great job as a single product team," Andrey Davydov, Head of Mobile, Rosbank Corporate Digital.
  • In 2021, the Rosbank Business app was awarded Gold as Best App for Financial/Insurance Company by Tagline Awards which is the largest digital-competition in Europe for the most innovative and high-quality projects.
  • Rosbank L'Hermitage Private Banking won the SPEAR's Russia Wealth Management Awards 2020 in the category "Best Foreign Bank in the Russian Federation".