Page 32 - bne_newspaper_December_07_2018

Weekly Lists
December 7, 2018 www.intellinews.com I Page 32
bne:Banker
Orban’s allies to create new universal bank
to challenge top lender OTP
Hungary’s fourth-largest lender Takarek Group, which comprises the country's integrated savings cooperatives, approved a five-year strategy on November 30, paving the way for the merger of its units leading to the establishment of a universal bank.
Analysts say that Takarekbank, state-owned Budapest Bank and MKB owned by businessmen close to the government could join forces in the near future to create one of the largest commercial banks in Hungary that could serve as a challenger to Hungary's largest lender OTP Bank.
The network of savings cooperatives, which currently constitutes some 100 small local banks with more than 1,500 branch offices and over one million customers mainly in the Hungarian country- side, played an important role in the government’s push to have over 50% of the banking sector owned by Hungarians.
Troubled and largest Tajik lender Tojiksodirotbank (TSB) might sell a 70% stake to Chinese company Junan as the two sides have agreed to a deal in principle, Asia-Plus news agency reported on December 3, citing TSB. At the same time, TSB is still in talks with Saudi Investment Group, which preliminarily agreed to acquire
a 51% stake in the bank earlier this year, TSB reportedly added.
The bank is hoping to sell a controlling stake to the side that offers the best deal. Other parties TSB is engaged in talks with include Russia's VTB and Sberbank.
The Central Bank of Russia (CBR) has cut the number of bank supervisors almost in half as the number of banks in Russia drops below 500 and the clean-up comes into the end game.
As a result of the centralisation of banking supervision, the central bank dismissed about 45% of its staff, reducing their number to less than one thousand people, said deputy chairman of the CBR Olga Polyakova in an interview with Rossiyskaya Gazeta.
Since she took over as CBR governor in 2013, Elvira Nabiullina has been steadily closing 100 banks a year to make the sector easier to supervise.
Tajikistan’s largest lender mulls selling stake to Chinese investor
Central Bank of Russia cuts the number of bank supervisors almost in half