Rich Russian banks to buy European rivals VIDEO

[North Pole Resident]

Russia won the Second World War with the power of a muscle.



1945. Storming the Reichstag, Berlin.



1945. The Victory Flag above Berlin.



1945. Soviet troops at the entrance to the Reichs Chancellery with cross decorations heaped all over the stairs.



1945. Marshal Georgy Zhukov at the Reichstag.

[North Pole Resident]

And now we are going to win at the game of Capitalism with a power of a mind.
Europe will turn into a Russia's employee.

FROM VICTORY TO VICTORY!

The purchase of major EU bank, B.M.P.S. by a Russian counterpart could mark the start of a shopping spree by the country’s cash-rich banks.

VIDEO - RussiaToday : Business : Rich Russian banks to buy European rivals

On Wednesday influential business daily Milano Finanza reported that a Russian consortium is eyeing the French and Belgian operations of Banca Monte dei Paschi di Siena SpA.

Observers believe only VTB or Sberbank has the resources to buy the assets put up for sale by the Italian major.
Experts think cash-rich Russian banks will not be able to resist the temptation to purchase European banks. The current credit crisis provides all the conditions for such deals: EU banks have become relatively cheap, while Russia's banks are full of cash.

However, some banking analysts do not see the logic for Russian banks to buy abroad. “I think the priority for any Russian bank’s management must be first to focus on the domestic market,” an expert from global investment bank Lehman Brothers said.

RussiaToday : Business : Rich Russian banks to buy European rivals

[North Pole Resident]

For those who are in banking business or just interested:

17th International Banking Congress



28 - 31 May, 2008


17th International Banking Congress is to be held in Saint-Petersburg (Russia) at the Hotel Park Inn Pribaltiyskaya.

Topic: "Banks in the Financial Intermediation System: Present State of the Art and Prospects".

To be discussed at the plenary sessions and workshops is increased importance of banks in the progress of financial intermediation and in the money transmission mechanisms, bank competitiveness in the financial markets, introduction of new bank products and technologies as well as improved quality of management and regulation of risks accompanying these processes under globalization of financial markets. Congress participants will exchange experience on the above problems.
Keeping to the established tradition, representatives of the Federation Council, State Duma, Government of Russia, Bank of Russia, representatives of the international financial institutions, of the Russian and foreign banks, auditors, consulting and IT companies, bank associations will participate in the work of the Congress.
Organizers of the Congress are the Central Bank of Russian Federation (Bank of Russia) and Government of Saint-Petersburg.
IBC-2008 is held with the aid of St. Petersburg Foundation for Support of the International Banking Congresses, bank associations, Russian credit institutions.



We would like to inform you that the registration of the IBC-2008 participants is finished.


Should you need any additional information, please contact us by phone: +7 (812) 329-24-22,
329-24-49,
or by e-mail: mbk@mbk.spb.ru

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Telephone: +7 (495) 967-6000
Fax: +7 (495) 967-6488

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