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Weekly Lists
November 2, 2018 www.intellinews.com I Page 26
bne:Banker
Russia's Vnesheconombank revamped into VEB. RF, to get up to $22bn support
Russian state development bank Vnesheconombank (VEB) will be granted RUB600bn ($9.1bn) of budget subsidies through 2024 to fully cover external debt, while getting another RUB300bn for re- capitalisation and possibly another RUB350bn for issuing discount- ed development loans, Prime Minister Dmitri Medvedev announced at a meeting of the bank's supervisory board.
"In order to increase VEB's efficiency, we need to strengthen its financial model. Namely, solving the foreign debt in the long-term," Medvedev said. Reuters estimated that VEB has to cover $6.2bn worth of Eurobonds by 2025.
VEB was on the brink of default in 2015-2016, overburdened by loans issued for Sochi Olympics construction and hit by sanctions. Now it has been slated by Kremlin to become one of the main hubs of infrastructure spending after the appointment of Igor Shuvalov, ex-deputy prime minister and trusted Kremlin bureaucrat, as its new head.
Czech bank Expobank CZ claimed to be the first bank in Europe to provide its customers with a new NEO cryptocurrency account based on the bank´s online platform Expobanking, the bank said on its website on October 29. Alongside traditional banking activities it offers also WBTCB (World Bitcoin Business) transactions.
"Account holders can save the crypto-currency without having to create their own bitcoin wallet and keep the private key. A verified user can trade in above-standard transaction limits and will also always see the current development of bitcoin price,” WTCTB chief at the bank Martin Stransky said.
Macedonia’s deposits in commercial banks grew by an average of 8% annually in the last ten years, which contributed to an increase of around 10 percentage points (pp) to the level of 55% of GDP in 2017, the new governor of the central bank, Anita Angelovska- Bezoska, said.
“The fact that the deposit growth was realised in conditions of
the global crisis and increased economic and political shocks is a confirmation of the high confidence of the citizens in the banking sector, which remained stable, stable, highly capitalised and liquid,” Bezoska said.
Czech bank claims to be first in Europe to offer cryptocurrency account
Macedonia’s central bank governor says deposit growth very solid throughout crisis