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Andrey Ostroukh

Russia's VTB says quarterly net profit down 93%, could slash dividends

Aug 07 2020

MOSCOW Russia's second-largest lender VTB said on Friday its second-quarter net profit fell 93% as provisions against bad loans mounted amid the coronavirus crisis, prompting management of the state-run bank to recommend slashing dividends.   

UPDATE 1-Russia's VTB says quarterly net profit down 93%, could slash dividends

Aug 07 2020

MOSCOW, Aug 7 Russia's second-largest lender VTB said on Friday its second-quarter net profit fell 93% as provisions against bad loans mounted amid the coronavirus crisis, prompting management of the state-run bank to recommend slashing dividends.

UPDATE 2-Russian banking group TCS warns full-year profit to fall despite solid second quarter

Aug 06 2020

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

CORRECTED-UPDATE 1-Russia's TCS Group says full-year profit will lag 2019 after Q2 earnings beat

Aug 06 2020

MOSCOW, Aug 6 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.

UPDATE 2-Russia's Sberbank Q2 hit by provisions, but fewer than Q1

Jul 30 2020

MOSCOW, July 30 Sberbank's net profit fell 33.4% year-on-year in the second quarter, but rose from the quarter before as Russia's largest lender made fewer provisions against bad loans stemming from the coronavirus crisis.

UPDATE 2-Russian central bank cuts key rate to record low of 4.25%

Jul 24 2020

* Analysts see the key rate lower later in 2020 (Adds detail, quotes)

Russia seen cutting rates by at least 25 basis points on Friday: Reuters poll

Jul 20 2020

MOSCOW Russia's central bank is expected to cut its benchmark interest rate to a fresh record low on Friday, as a lockdown to curb the spread of coronavirus and still-low oil prices cause the economy to shrink.

Investors in Russian bonds relaxed about extended Putin rule

Jul 07 2020

MOSCOW/LONDON The prospect of President Vladimir Putin staying in the Kremlin until 2036 does not seem to be deterring buyers of Russia's high-yielding sovereign bonds as investors focus on economic fundamentals and political stability rather the risk of policy stagnation.

Russian economy will shrink 6% in 2020, World Bank forecasts

Jul 06 2020

MOSCOW The World Bank expects Russia's economy to shrink 6% this year, the most since 2009, under pressure from the coronavirus pandemic and falling oil prices, before returning to growth in 2021-2022.

Russian economy will shrink 6% in 2020, World Bank forecasts

Jul 06 2020

MOSCOW, July 6 The World Bank expects Russia's economy to shrink 6% this year, the most since 2009, under pressure from the coronavirus pandemic and falling oil prices, before returning to growth in 2021-2022.

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