Key Developments: AKB Bank Moskvy OAO (MMBM.MM)

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Latest Key Developments (Source: Significant Developments)

AKB Bank Moskvy OAO acquires 42.28 pct in Hals-Development OAO
Tuesday, 19 Aug 2014 01:37am EDT 

Hals-Development OAO:Says that AKB Bank Moskvy OAO has acquired 4,741,540 of its shares, that is 42.27066 percent of share capital.  Full Article

AKB Bank Moskvy OAO makes offer for BPO Pechatniki shares
Wednesday, 13 Aug 2014 09:16am EDT 

AKB Bank Moskvy OAO:Makes obligatory offer for 4,206,057 shares in Bumazhno-poligraficheskoye ob''yedineniye pechatniki OAO (BPO Pechatniki).The offered price is 149.13 Russian rubles a share.The offer is valid for 70 days as of its receipt by BPO Pechatniki.  Full Article

Court declares bankruptcy of AKB Bank Moskvy OAO controlled company
Monday, 11 Aug 2014 01:50am EDT 

AKB Bank Moskvy OAO:Says that on July 29 the Arbitration Court in Moscow declared insolvency (bankruptcy) of AKB Bank Moskvy OAO's controlled company, Stroyportinvest ZAO, and opened bankruptcy proceedings for six-month period.  Full Article

S&P affirms VTB Bank OAO, AKB Bank Moskvy OAO ratings
Friday, 8 Aug 2014 07:21am EDT 

VTB Bank OAO:Standard & Poor's Ratings Services (S&P) says that it had affirmed its BBB- long-term and A-3 short-term counterparty credit ratings on Russia's VTB Bank.The outlook is negative.S&P also affirmed ruAAA Russia national scale rating on VTB Bank.At the same time, S&P affirmed ratings and maintained outlooks on VTB Bank's core subsidiaries, including AKB Bank Moskvy OAO (BBB-/Negative/A-3; ruAAA).In S&P opinion VTB Bank has sufficient liquidity to meet its 2014-2015 wholesale debt service obligations and S&P views the bank as having ample cash, diversified funding sources, and limited reliance on the U.S. and EU capital markets.The negative outlooks mirror that on Russia and reflect the increasing challenges VTB Bank faces as a result of the difficult operating environment, notably its funding profile and capitalization.  Full Article

AKB Bank Moskvy OAO to sell Belarusian subsidiary-Interfax
Friday, 8 Aug 2014 04:47am EDT 

AKB Bank Moskvy OAO:Bank of Moscow's board of directors has given the go ahead for the bank to sell its Belarusian subsidiary, Bank of Moscow-Minsk, the Russian bank said in materials-Interfax.The sale will be conducted in order to optimize the presence of VTB Group in Belarus in the near future, and accordance with Bank of Moscow's strategy, which does not see developing subsidiary banks outside the country's borders, the bank's press service told Interfax.The name of the buyer is not being disclosed.Bank of Moscow is also searching for a buyer for its Ukrainian asset and does not rule out the option of merging it with VTB Ukraine.  Full Article

VTB Bank OAO, AKB Bank Moskvy OAO, Rossel'khozbank OAO among latest additions to Canada's sanctions list-Interfax
Wednesday, 6 Aug 2014 09:43am EDT 

VTB Bank OAO:The Canadian government on Aug. 6 announced further extension of its sanctions list against Russia, having added, in particular, VTB Bank OAO, Rossel'khozbank OAO, AKB Bank Moskvy OAO and the Russian National Commercial Bank-Interfax.All in all, the new list features 22 companies and entities.Canadian Prime Minister Stephen Harper said that the latest sanctions were coordinated with the United States and the European Union.  Full Article

FAS allows AKB Bank Moskvy OAO to acquire 48.76 pct of Hals-Development OAO-Interfax
Thursday, 31 Jul 2014 02:31am EDT 

AKB Bank Moskvy OAO:Federal Anti Monopoly Service of Russian Federation (FAS) has provided AKB Bank Moskvy OAO with the permission to acquire 48.76 pct of Hals-Development OAO-Interfax.VTB Bank OAO already owns 51.24 pct stake in Hals-Development OAO and share repurchase by AKB Bank Moskvy OAO, which is part of VTB Bank OAO, will allow VTB Bank OAO to consolidate 100 pct of Hals-Development OAO.  Full Article

AKB Bank Moskvy OAO divests BM BANK AO
Monday, 14 Jul 2014 02:00am EDT 

AKB Bank Moskvy OAO:Decides to divest its stake in BM BANK AO.  Full Article

AKB Bank Moskvy OAO sells Moldavian Сalarasi Divin-Interfax
Friday, 4 Jul 2014 01:35am EDT 

AKB Bank Moskvy OAO:AKB Bank Moskvy OAO has sold Сalarasi Divin, a Moldavian producer of wine and cognac, according to the bank's information-Interfax.The bank ceased to control Kalarash OOO, as well as Moldavian Intreprinderea Mixta Сalarasi Divin SA, MMVZ-Moldova SRL and SC MMVZ-AGRO SRL.Сalarasi Divin was sold within the framework of divesting non-core assets, the bank's representative told Interfax-AFI, adding that the bank doesn't own other assets in Moldova.The buyer and price were not disclosed.  Full Article

AKB Bank Moskvy OAO comments on FY 2014 RAS net profit guidance-Interfax
Tuesday, 17 Jun 2014 10:02pm EDT 

AKB Bank Moskvy OAO:AKB Bank Moskvy OAO can decrease net profit to Russian Accounting Standards (RAS) for the fiscal year 2014 compared to the fiscal year 2013, deputy chairman of management board, finance director Mikhail Berezov said-Interfax.In 2013 the bank increased RAS net profit to 26 billion Russian rubles compared to 6.9 billion in 2012.In Jan. VTB head Andrey Kostin said in an interview for Euromoney newspaper that AKB Bank Moskvy OAO will report profit of 26 billion rubles in 2013 and of 40 billion rubles in 2014, which will allow VTB a 15 percent return on investment made in 2011.  Full Article

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