Event of the month:
Russia’s Deputy Finance Minister Sergei Storchak said an announcement by a Cypriot minister that the reconstruction of the island nation’s 2.5 billion euro loan from Russia had been agreed was premature.
The former head of the Bank of Moscow, Andrei Borodin, could be set to lose a major share of his fortune after Swiss authorities named the bank as an injured party in a money-laundering case filed against him.
The decision of the month:
Azerbaijan’s state oil fund SOFAZ has agreed to invest around $500 million in a new share offering by VTB
Scandal of the month:
The board of directors of Rosbank, the Russian subsidiary of French banking giant Societe Generale, has fired Rosbank’s CEO Vladimir Golubkov following accusations of bribe-taking against him.
The deal of the month:
The bank’s management board chairman Alexei Levchenko told that Mikhail Prokhorov’s Onexim Group is going to sell a 6.5% interest in Renaissance Credit’s charter capital to Yurchenko.
Mikhail Prokhorov’s Onexim Group has become a new shareholder at VTB Bank after injecting over $400 mln into the bank’s capital during the latest SPO.
Full report is available in pdf. May 2013 Russian banking news.