At the Italian-Russian summit in Rome, Intesa Sanpaolo signed a framework agreement with the Russian bank Vnesheconombank (VEB) on support and development of trade between Russia and Italy through joint projects to the benefit of SMEs.
The agreement was signed at Villa Madama by Gaetano Micciché, Intesa Sanpaolo Corporate and Investment Banking Division Manager and Banca IMI CEO, and Vladimir Dmitriev, the VEB Chairman. Its main aims are to promote new tools available to SMEs in support to their growth and market expansion, and to further expand trade between the two countries, encouraging Italian SME exports to Russia.
As a result of this agreement, Intesa Sanpaolo will make credit facilities for a total of 100 million euro available through the Global Services Department which, with guarantees provided by VEB, will be destined to Russian regional banks. The regional banks will therefore increase resources for the development and growth of local businesses. Specifically, the financing will be dedicated to Russian SMEs trading with Italian companies and Italian companies intending to access or strengthen their presence on the Russian market.
"The agreement signed today," announced Gaetano Micciché, "once again confirms Intesa Sanpaolo’s commitment to provide the best possible long-term support to small, medium and large companies, just as much on the international market as in Italy. The funds to be made available by Intesa Sanpaolo as a result of the agreement signed with VEB will therefore target trade development with Italy, allowing the Russian banking system to sustain Italian exports through new dedicated and immediately operative tools for application at regional level."
Source: Intesa SanpaoloDate: 07.12.2009
| |  Three Swiss bankers indicted by U.S. in tax crackdown - 09.01.2012
U.S. authorities are moving toward taking legal action against Wegelin & Co., which could lead to an indictment of one of Switzerland's last pure private banks, on charges that it enabled wealthy Americans to evade taxes, according to two persons with knowledge of the case.
Source: Reuters |
| | Islamic finance assets to hit US$ 1.1 trillion in 2012 - 22.11.2011
Islamic finance assets around the world are expected to climb 33% from their 2010 levels to $1.1 trillion by the end of 2012, boosted by the aftermath of the Arab Spring uprisings and dissatisfaction with conventional finance in the wake of the global debt crisis, consultants Ernst & Young said in a report on Tuesday.
Source: Reuters |
| | Credit union business grows as consumers sour on banks - 07.11.2011
The big banks may have dropped the debit card fees, but the credit unions are the ones picking up the business.
Source: Reuters |
| | Spanish bank ratings downgraded by Fitch and S&P - 12.10.2011
Two leading credit rating agencies have downgraded some of Spain's largest banks, citing a deteriorating outlook for the Spanish economy.
Source: BBC News |
| | Spotlight on Islamic Retail Banking – strategies for fast growing industry - 07.10.2011
Islamic Banking is young but fast growing industry what brings challenges as need for standardization, expanding at the market (now < 1% population is banking Islamic Banks), lack of public awareness about Islamic Banking (misinterpretation) and limited resources of qualified people in this particular industry.
Source: Fleming Gulf |
| | JBIC inks $43bn credit line pact with Japan banks - 05.10.2011
The Japan Bank for International Cooperation (JBIC) said Wednesday that it has signed separate pacts with three major Japanese banks to give them a combined $43 billion, or Y3.3 trillion, credit line, as part of the government's steps to encourage companies to go ahead with M&As overseas.
Source: Nikkei |
| | U.S. banks begin charging monthly debit-card fees - 01.10.2011
Get ready for a new wave of bank fees. Bank of America will begin charging a $5 monthly fee at the beginning of next year for customers who make debit card purchases.
Source: CNNMoney |
