By Andrei Skvarsky. Sovcombank, one of Russia’s largest banks, has entered into a deal in which it would lend a maximum of $300m to co-finance Russia’s current construction of a nuclear power plant at Akkuyu, Turkey, the first Turkish nuclear generating facility. The borrower is construction project operator Akkuyu Nuclear JSC, a subsidiary of Russian… Continue Reading
Deal with identity verifier Sumsub provides Leverate fintech firm with anti-fraud solutions
By Andrei Skvarsky. Leverate, a Limassol-headquartered technology provider for foreign exchange brokerages, has clinched a deal with London-based identity verifier Sumsub that supplements packages offered to clients by the Cyprus-based company with anti-fraud technologies. The terms of the deal save customers of Leverate, whose technology is used by about 65,000 traders, the trouble of going… Continue Reading
M4Markets forex, CFD broker upgrades arsenal by launching MT5 platform
By Andrei Skvarsky. M4Markets, a foreign exchange and contract-for-differences (CFD) brokerage, has announced it has rolled out a MetaTrader 5 (MT5) electronic trading platform in addition to the less sophisticated MetaTrader 4 (MT4) it used until then. MT5 offers a range of features that MT4 does not possess. They include an in-built economic calendar, the possibility… Continue Reading
Sberbank adopts role of Russian vehicle of WEF’s climate-related initiative
By Andrei Skvarsky. Russia’s biggest lender Sberbank has taken on the mission of a key vehicle in Russia for a World Economic Forum (WEF) initiative to encourage companies to take better account of risks caused by climate change in their business planning. Sberbank, which is rebranding itself as Sber, has become general partner of Russian… Continue Reading
M4Markets FX and CFD broker launches festive rebate promo
By Andrei Skvarsky. M4Markets, a foreign exchange (FX) and contract-for-difference (CFD) brokerage, has announced that clients of the company will receive $2 for every lot they trade as a Christmas-New Year rebate promotion launched on December 1 and expiring on January 31. Only direct clients, both current and new ones, and only those holding a standard… Continue Reading
Sberbank uses character from 1970s movie in deepfake ad
By Andrei Skvarsky. Russia’s biggest lender Sberbank has shot a humour-tinged deepfake ad video showing a character transferred from a 1973 Soviet comedy film into the Moscow of 2020 being amazed by and enjoying a variety of services offered by the bank’s ecosystem. Petty burglar George Miloslavsky from the movie Ivan Vasilievich Changes His Profession,… Continue Reading
Russian timber business Segezha reports 38 pct YOY revenue growth
By Andrei Skvarsky. The revenue of Russian timber products manufacturer Segezha Group showed a year-on-year increase of 38 per cent as of the end of September, according to the company, which is part of Russian conglomerate Sistema. Segezha had a revenue of 19bn roubles ($256m) for the third quarter of 2020, which was 38 per… Continue Reading
Dubai’s Emirates NBD says new device for clients is all-in-one cash admin system
By Andrei Skvarsky. Dubai’s largest bank Emirates NBD has launched a digital platform for its business clients that, according to the lender, enables them to manage all their financial activities. The businessONLINE platform offers “a full suite” of cash and liquidity management and trade finance solutions to clients “ranging from small and medium-sized businesses to… Continue Reading
EVENTS: Day 2 of the Future of Insurance Europe in Progress
Day two of The Future of Insurance Europe, a two-day online conference organised by Reuters Events and bringing together more than 3,500 insurance professionals, is live now. Please check the list of speakers on https://www.linkedin.com/posts/alexanderjhbird_insurance-disruption-future-activity-6737294463779004416-E8q9. Continue Reading
Ingot Brokers speeds up client verification to ‘3 minutes’ via deal with Sumsub
By Andrei Skvarsky. Australian multi-asset financial brokerage Ingot Brokers has drastically speeded up its client identity verification procedure and made it more accurate via an automated solution acquired from London-headquartered identity verifier Sumsub. The solution, obtained by Ingot from Sumsub under a partnership agreement, cuts customer onboarding time “from 3 days to 3 minutes”, the… Continue Reading
EVENT REMINDER: Banks, tech firms to discuss future of banking in Saudi Arabia at online conference on Nov 23-24
Bankers and IT specialists will share their views on the future of banking in Saudi Arabia during a two-day online conference starting at 7am GMT on Monday. About a dozen banks, mostly Saudi, and some global tech companies are coming together at Future Banks Summit KSA [Kingdom of Saudi Arabia] on November 23-24. The event,… Continue Reading
Russian e-payment service Yandex.Checkout being renamed YooMoney for foreign markets
By Andrei Skvarsky. Russian online payment service Yandex.Checkout, which is owned by Russia’s biggest lender Sberbank, will rebrand itself as YooMoney for non-Russian markets. The rebranding will be completed by December 15, 2020, before which the payment company will use both names, Yandex.Checkout and YooMoney, the firm said in a statement. Sberbank became the sole… Continue Reading
Sberbank promotes tech unit chief to senior VP
Konstantin Kruglov, chief executive of the SberDevices department of Sberbank’s technology division, has been promoted to senior vice-president of Russia’s biggest lender. Kruglov will remain in the technology division and will continue to oversee the development of artificial intelligence-based solutions for speech, natural language processing, face and voice authentication and virtual assistants technologies, Sberbank said… Continue Reading
Sberbank widens range of languages it uses to talk to foreign clients
By Andrei Skvarsky. Sberbank, Russia’s largest lender, has enlarged the range of foreign languages it uses to communicate with non-Russian-speaking customers, adding Japanese, Chinese, Korean, German, French, Italian, Spanish, Finnish, Uzbek, and Tajik to English, which it has used before. Sberbank branches have presentations of key products and services such as cards, savings accounts, internet… Continue Reading
EVENT REMINDER: AI, mobile payments, cyber threats to be discussed at Saudi-focused Future Banks Summit KSA on Nov 23-24
The use of artificial intelligence in banking, mobile payment and wallet innovations, and new cyber threats facing banks in Saudi Arabia are among numerous topics to be raised at the Saudi-focused online Future Banks Summit KSA [Kingdom of Saudi Arabia] on November 23-24. There will be several panel sessions, several presentations and ten hours of… Continue Reading
U.S. asset manager Castlestone: Biden victory, split Congress super news for stock markets
By Andrei Skvarsky. U.S. asset manager Castlestone Management argues that Democrat Joe Biden’s victory in the Unites States’ presidential election and a Congress split between Democrats and Republicans after recent polls will most likely give a powerful boost to American stock markets. Investment in equities normally increases after elections anyway, but, historically, having a Democratic… Continue Reading
Andrey Shemetov raised to senior VP of Sberbank, tasked with global business, investment, oversight of key clients
Russia’s biggest lender Sberbank has promoted Andrey Shemetov, one of its senior managers, to the rank of senior vice-president with the duties of overseeing activities in world markets, investment business, and work with key clients. In this position, Shemetov will be one of the top figures in the corporate and investment arm, Sberbank’s largest division,… Continue Reading
Minority owners to reject Kaz Minerals buyout price offer from Nova
By Andrei Skvarsky. Moscow-based investment adviser CFC Management has confirmed that its clients who together own a stake of about 3.6 per cent in copper producer Kaz Minerals intend to vote against the acquisition price offered for the London-listed copper miner by investment consortium Nova Resources. In following CFC advice, the owners of the 3.6… Continue Reading
Dubai-listed $600m Islamic bond issue oversubscribed 3 times over – ICD
By Andrei Skvarsky. A $600m issue of sukuk, or Islamic bonds, listed by Islamic Corporation for the Development of the Private Sector (ICD), on Nasdaq Dubai on October 15 has been oversubscribed about three times over, ICD said. The capital to be raised by the five-year Sharia-compliant securities would be used to support private sector… Continue Reading
London financial broker Infinox expanding further into Africa
By Andrei Skvarsky. London-based online financial broker Infinox Capital is expanding its business into Namibia, Botswana, Mozambique, Tanzania and Ghana after a recent launch in Nigeria and plans to set up a continental hub in South Africa in the coming months. Young people make up a large proportion of Africa’s population and have increasing access… Continue Reading
EVENTS: Online Future Banks Summit KSA on Nov 23-24 to examine what Saudi banking is heading for
Senior bankers will share their views on the future of the banking industry of Saudi Arabia during the online Future Banks Summit KSA on November 23-24. The speakers will chiefly focus on the future role of digitisation in the Saudi banking sector and on the impact of Covid-19 on the industry. The majority of them… Continue Reading
ENLARGED: Debex launches debut online delinquent debt auction in Spain
By Andrei Skvarsky. Debex, an international company running online auctions for delinquent debts, has launched trading in Spain with the debt portfolio of Spanish microlender Prestamer being its first sale. Debex credits its trading with quickness, efficiency and convenience for clients. A buyer can get acquainted with a debt portfolio before it is put on… Continue Reading
Seychelles-based CFD broker M4Markets hires Marilena Iakovou from Tickmill as head of marketing
By Andrei Skvarsky. M4Markets, a foreign exchange (FX) and contract-for-differences (CFD) brokerage headquartered in Seychelles, has announced it has hired Marilena Iakovou from FX broker Tickmill as chief marketing officer (CMO). A CFD is a financial derivatives trading deal where the difference between the open and closing trade prices is paid by the buyer to… Continue Reading
Venio launches microloan app in Mexico after debut in Philippines
By Andrei Skvarsky. Mexico has become the second country after the Philippines where U.S. financial technology company Venio launched a smartphone app for microlending to people without bank accounts. The unbanked account for 63 per cent of Mexico’s adult population of 98m. The app offers them access to loans that may be as tiny as… Continue Reading
EM communications firm makes three senior hires
By Andrei Skvarsky. EM, an emerging markets communications and investor relations consultancy, has made three senior hires with Daria Khilenkova joining the company in Moscow, Jamie Hyman in London and Yury Krebs in Valencia. Khilenkova, who comes from investment bank Renaissance Capital, is in charge of financial communications in Moscow, according to an EM statement.… Continue Reading
Sberbank to be sole owner of Russia’s Cetelem Bank via deal with BNP Paribas
By Andrei Skvarsky. Russia’s biggest lender Sberbank is going to become the sole owner of Russia’s Cetelem Bank, the country’s number one car loan provider, by enlarging its capital in the firm to 100 per cent under an agreement with BNP Paribas that awaits regulatory approval in Russia and France. Under the terms of the… Continue Reading
EVENTS: Reuters Events webinar on Oct 8 to discuss insurance industry digitisation
The need and benefits of digitisation in insurance companies will be discussed during a free North America-focused webinar at 11am Eastern Time (3pm GMT or 4pm BST) on October 8 to be hosted by Reuters Events. The webinar, Digital Transformation for a New Era: Maximising the Potential of Analytics, AI & Automation, will bring together… Continue Reading
Sberbank appoints head of marketing, names head of Sberbank Life Insurance
By Andrei Skvarsky. Russia’s biggest lender Sberbank has vested vice-president Vladislav Kreynin with the duties of head of marketing and communications to supplement his current role of chief growth officer for the SberX ecosystem and named ex-Raiffeisen banker Igor Kobzar as chief executive of Sberbank Life Insurance. Kreynin will receive the title of Sberbank senior… Continue Reading
Venio says its micro-loan app now usable throughout Philippines
By Andrei Skvarsky. A smartphone app for micro-borrowing developed by New York-headquartered company Venio primarily for unbanked individuals is now usable throughout the Philippines after an initial roll-out in its metropolitan areas in July. The app provides access to loans starting from $1, Venio, which is a global financial technology company, said in a statement.… Continue Reading