Oct, 22 The price of the oil basket (OPEC) fell to $60 a barrel.
Oct, 17 World oil prices fell below $70 a barrel.
Oct, 6 The capitalization of the world stock exchanges fell by 2.5 trillion dollars.
VTB Bank
Vneshtorgbank (VTB) is a recognized leader of the national financial industry having gained a sustained competitive edge in all segments of the banking market. As of September 30, 2006 according to IFRS (consolidated), its shareholders equity totaled US$6.2 billion, enabling VTB to meet the Basle capital adequacy requirements with a safe margin. The assets of the Bank as of September 30, 2006 amounted up to US$49 billion.
Presently, the Government of the Russian Federation is the major shareholder of VTB, with its share accounting for 99.9%. Among other shareholders are "Gazexport", Sberbank, "Energomashexport", "Ingosstrah", Chamber of Commerce and Industry of the Russian Federation. VTB has further solidified its leadership in financing the Russian economy. As of September 30, 2006 VTB's loans outstanding to non-financial companies totaled US$27.6 billion. Among the main borrowers of the Bank are industrial enterprises and foreign trade companies. International rating agencies Moody`s Investors Service, Standard & Poor`s and Fitch have traditionally assigned VTB the highest possible rating for Russian banks. Russian rating agencies also award VTB with the highest possible reliability ratings.
Repartition of the Global Banking System is inevitable - 05.12.2008 The financial crisis continues to storm in the global markets. This time the main victim of crisis is a banking system developed and developing countries. And experts notice, that the global banking system will undergo huge changes by 2012.
US government puts up $300bn in Citigroup rescue - 25.11.2008 The US government pulled Citigroup back from the abyss yesterday with a comprehensive bail-out that saw taxpayers guaranteeing $306bn of risky assets and injecting $20bn of capital into the banking group.
HSBC cuts 450 jobs in Hong Kong - 18.11.2008 HSBC was laying off 500 people in Asia, 90 percent of them in Hong Kong, in a further indication that the Asian financial community, so far relatively unscathed by mass layoffs seen on Wall Street, is being affected by the global financial crisis.
Vneshtorgbank (VTB) is a recognized leader of the national financial industry having gained a sustained competitive edge in all segments of the banking market. As of September 30, 2006 according to IFRS (consolidated), its shareholders equity totaled US$6.2 billion, enabling VTB to meet the Basle capital adequacy requirements with a safe margin. The assets of the Bank as of September 30, 2006 amounted up to US$49 billion.
