TCS Group Holding PLC

The Russian rouble fell against the dollar on Monday on lingering fears of new sanctions and lower oil prices, while the MOEX benchmark stock index hit an all-time high and GDRs in TCS Group, which owns online bank Tinkoff, continued rallying.

Russia will add two new names from the online sector to its benchmark stock market index on Friday as technology firms lead a diversification drive on the stock market, long skewed towards the dominant commodities industries.

Russian businessman Oleg Tinkov said on Friday he and his family had raised $325 million by selling part of their stake in TCS Group, and planned to use some of the cash to launch a cancer fund and deal with unspecified "legal challenges".

Russia's central bank is looking for an investor in bailed-out Otkritie bank, but has drawn a blank with an approach to internet giant Yandex, two sources close to the matter told Reuters.

Russia's TCS Group <TCSq.L>, which owns Tinkoff Bank, reported a 30% rise in third-quarter net profit on Thursday and reinstated its pre-pandemic financial forecast for the full year.

Russia's VTB <VTBR.MM> bank, which has transformed itself into a major grain trader within a year, plans to remain in the grain business for the next three to five years, Andrey Kostin, the chief executive of the state-controlled lender, told Reuters.

Plans for Russia's biggest corporate deal of 2020 collapsed on Friday after talks over a $5.48 billion cash-and-share sale of online bank Tinkoff to internet giant Yandex ended.

Kazakh banking and fintech firm Kaspi.kz <KSPI.KZ> may revive plans to list in London within weeks, three sources told Reuters, after Yandex's planned purchase of Russian online bank Tinkoff establishes a comparative valuation.

The brand of online Russian bank Tinkoff will live on despite its proposed sale to technology giant Yandex <YNDX.O>, the bank's founder said on Wednesday, reiterating his pledge to stay with the business.

Russian bank TCS Group Holding is in talks to sell its online bank Tinkoff to Russian internet group Yandex for $5.48 billion (£4.30 billion), the two companies said on Tuesday.

Oleg Tinkov, a founder of Tinkoff Bank, said on Tuesday he will stay with the company after its future merger with Russian Internet giant Yandex .

* Says scrapping tax deal with Cyprus may increase tax burden (Adds TCS' position on tax agreement with Cyprus, paragraphs 6,7)

Russian bank TCS Group Holding on Thursday reported a 25% rise in second-quarter net profit, but said it expects full-year earnings to lag 2019 levels as it reintroduced guidance scrapped last quarter due to the COVID-19 pandemic.

Es folgt der Reuters-Blick zu wichtigen Entwicklungen in der Unternehmenswelt über die Top-Themen des Tages hinaus:

* Retail loans, SME lending one of the most profitable for banks

The rouble fell slightly against the dollar on Wednesday, supported by strong demand at Russian treasury bond auctions, but buffeted by volatile oil prices as the coronavirus outbreak continued to hang over global markets.

Russian bank TCS Group Holding <TCSq.L> said on Wednesday it expected to remain profitable this year despite slower growth

The rouble held steady ahead of strong anticipated demand at Wednesday's Russian treasury bond auctions and gained some support from central bank foreign currency intervention.

Russian lender TCS Group Holding said on Wednesday its first-quarter net profit rose 26% year on year to 9 billion roubles ($122.56 million) and that it expected to remain profitable this year despite slower growth.