Banks

By its Order No. OD-3983, dated 16 November 2016, the Bank of Russia revoked the banking licence from the credit institution Commercial Bank Express-credit (stock company) (Registration No. 210, the city of Moscow) from 16 November 2016.

According to estimates by the provisional administration, the total asset value of LLC CB CREDO FINANCE does not exceed 89 million rubles, while its liabilities to creditors amount to 95 million rubles.

Tentative data suggest that the economy grew in October, albeit with substantially mixed economic performance across sectors.

ADB has approved a $150 million loan to develop an efficient goods handling system for Chongqing that integrates logistics for road, water, and rail transport. 

In October 2016, NBU completed the examination of related-party asset-side transactions of 14 banks.  In total, of 1 November 2016 the regulator verified such transactions in 58 banking institutions.

The Group net profit reached RUB137.0 bn, or RUB6.36 per ordinary share, up by 110.4% compared to 3Q 2015.

Development partners need to improve their approach to countries with fragile and conflict-affected situations, says a new ADB report.

Sberbank CIB will be a general partner of the 14^th Russian Bonds Conference, which will be held on December 8-9 in Saint Petersburg.