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The ecosystem

Sberbank is considering the possibility to remove the word “BANK” from its name Sberbank since it’s rather an ecosystem than a bank. That’s why they are thinking about changing the name said the CEO of the bank Herman Gref during a press scrum following the meeting of the Supervisory Board of Sberbank. Recently the founder and Chairman of the Board of Directors of Tinkoff Bank Oleg Tinkov announced that in 2019 Tinkoff Bank is going to remove the work “BANK” from its name and become a financial organization. However the representatives of the Bank of Russia haven’t announced the same intentions regarding their name yet.

The owners of the largest private bank in Russia – Alfa Bank – discussed a possible sale of the credit organization with VTB and the Italian UniCredit, reported Financial Times. The negotiation is said to have failed. However Alfa Bank denied the discussion. The shareholders of the Bank did not conduct and are not conducting any talks about its sale. The message was distributed on behalf of the Bank’s holding company ABH Holdings S. A. In late November VTB head Andrey Kostin stated that VTB is not going to purchase Alfa Bank, at least in the nearest three years.

Deposit interest rates continue to grow following the inflation. In the third decade on November maximum average rate in top-10 Russian banks on individual deposits in Rubles was 7.36% against 7.32% in the second decade on the month. Thus during the third decade of November maximum rate increased by 0.04p.p., during the whole November – by 0.33. p.p. Today the level of maximum rate is the highest one since the end of 2017 (in the second decade of December last year the rate was 7.38%). Permanent but for one case of stagnation growth of the maximum rate has been seen since the third decade of July, 2018.

Rosfinmonitoring wants to control divorces and limit the cash turnover. Shady transactions of public officials including the ones from the governor’s, deputy’s and ministry’s cabinets were discovered by Rosfinmonitoring during the analysis of Panama Papers. Within corruption fighting the financial intelligence offers to create a system of declaring revenues and expenses when divorcing and to limit the cash turnover. Public officials often complete false divorces with the aim to hide assets purchases and not to declare them. Besides the agency finds it necessary to establish a register of officials so that the banks could conduct KYC. In general the Panama Papers of off-shore assets include more than four thousand Russians.