The Russian government has taken the decision to direct available federal budgetary funds to fight against the liquidity crisis of the banking system. Prime Minister Viktor Zubkov signed the proper order, which could be applied already in the mid-April. In the Ministry of Finance and in the banking association consider that the April liquidity crisis could be avoided in this case

Standard & Poor’s rating agency changed the ratings’ forecast for two Russian public banks from “stable” to “positive” ones – Bank for Development and Foreign Economic Affairs (Vnesheconombank) and Russian Bank for Development (RBD). At the same time the ratings were confirmed on the former levels as it is said in the agency press-release posted on the Standard & Poor’s website.

The British bank Barclays did not hide plans to enter the Russian bank market. Last year Barclays said about intention to acquire small Russian credit institution that already has a bank license. It became known about realization of this plan – Barclays declared about the acquisition of the Moscow Expobank, included in the Russian top hundred of the largest banks, for $745 million

After Bank of Moscow that first began to invest in the Russian forest industry other Russian banks ran to this industry. It was known that VTB acquired 10,07% of the Finnish forest business corporation Ruukki Group Oyj at Procomex S.A. company for €76,9 mln, realizing large investment project in the Kostroma region in Russia.

For the year, from January 1, 2007 to January 1, 2008, the stake of nonresidents in the authorized capitals of banks grew from 15,9% to 25,08%, is said in the Central Bank (CB) information. But the net stake of foreigners is less: if to subtract the off-shore stake of Russian citizens, comes out 22,8% (a year ago – 14,8%).

French bank Societe Generale and KM Technologies, the owner of 30% stocks of Rosbank, completed the transaction on sale of the Russian bank. Thus, in spite of billion losses from the scandal with the trader, the French bank received control over the third large branch network in Russia. Societe Generale paid $2,3 bln for Rosbank altogether and that became the new record on the Russian bank market.

The Ministry of Finance of Russia plans to begin at Moscow Interbank Currency Exchange (MICEX) holding auctions on investment of available assets of the federal budget on deposits of the Russian commercial banks in spring. Experts consider that the additional source of money will help banks to cope with transition to a quarterly mode of VAT payments. It is expected that in April credit organizations will be able to give back to the budget as taxes minimum RUR500 billion ($20 billion)

Savings Bank (Sberbank) intends to postpone the program of global depositary receipts (GDR) issue on the London stock exchange (LSE) for the second half of 2008. Reason of postponement became the unfavorable environment on western markets: in Sberbank fear the sharp fluctuations of stocks’ quotations. However, analysts consider, that terms postponement of entrance to the foreign trading floors can become a negative signal to the investors.

Largest Russian banks by the volume of equity capital Top 200
As of October, 1, 2007

Russian Sberbank (Savings Bank) has published the reporting for the first half-year according to the International Financial Reporting Standards. The net profit of the bank for January-June, 2007 totals RUR 47,99 bln. ($1,9 bln.), that is 29,6 % higher, than in the similar period of the last year. Besides Sberbank assets totaled RUR 4,282 bln. according to IFRS by the end of June, (growth rate is 47 % in annual calculation, and for a half-year the assets have increased by 23,5 %), and bank’s own capital increased by 120 % and 87 % accordingly, and totaled RUR 577,9 bln. ($23,116 bln.).