Articles by Vasily Kudinov



City Schemes to Avoid Bank Tender

Moscow officials intend to avoid a tender for the sale of Bank of Moscow by transferring its shares into the capital of the Tsentralnaya Toplivnaya Kompania fuel company, which will then sell them to VTB.

Alfa Wants Tender for City Asset

Bank of Moscow should be privatized via an open tender, rather than through a direct sale to state-controlled VTB, Alfa Bank has announced, declaring its intention to compete for the asset.

Lebedev's Bank Loses $49M in Deposits

Clients at National Reserve Bank withdrew 1.5 billion rubles ($49 million) in the two days after a raid by police and investigators, more than the lender lost on the rescue of Rossiisky Kapital, owner Alexander Lebedev said in a letter to prosecutors.

Sberbank Cuts Deposit Rates to Precrisis Levels

The country's largest lender reduced its ruble deposit rates for private individuals on Friday by 1 to 2 percentage points, a move which may lead to lower lending rates.

Central Bank Averts $44M Pension Fund Heist

The Pension Fund discovered the theft Monday when it received a notice from the Central Bank that 1.25 billion rubles had been transferred from its account.

Central Bank Foils Theft of Pension Fund

The theft was discovered Monday when the fund received a notice from the Central Bank that 1.25 billion rubles ($43.5 million) had been transferred from its account.

Gazprombank Plays Down Losses

The results were the sixth time this year that Gazprombank has posted a monthly loss; the previous worst month was May, when the bank lost 8.4 billion rubles.

Banks May Grant RusAl Low Restructuring Rate

United Company RusAl is in talks to restructure its $7.4 billion debt to foreign banks at no more than 6 percentage points or 7 percentage points over LIBOR, a more favorable rate than metals giants ArcelorMittal and Rio Tinto garnered for recent eurobonds.

Construction Hit by Loss of Lending Appetite

Construction companies, accustomed to doing business on credit, are becoming victims of the recent problems in the banking sector, research by Vedomosti indicates.