MOSCOW : Russia's dominant lender Sberbank will issue bonds in Chinese yuan this year if an opportunity arises and will continue borrowing in roubles to drive portfolio growth, the bank's finance chief told Reuters. In his first interview since becoming Sberbank's head of finance last year, Taras Skvorts
MOSCOW : Russia's dominant lender Sberbank will issue bonds in Chinese yuan this year if an opportunity arises and will continue borrowing in roubles to drive portfolio growth, the bank's finance chief told Reuters.
"But the situation is changing and it is possible that a window of opportunity will appear before the end of this year, then we will issue yuan bonds." Russian energy and commodities firms, such as Rusal, Polyus and Rosneft, have led the way in yuan-denominated issues. Russian firms placed bonds worth 1.7 billion yuan in May.
Sberbank's record first-quarter profit of 357.2 billion roubles featured no one-time revenues, meaning profits should grow as the business does, Skvortsov said.
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