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Russian banker has his eye on Europe

Igor Kim snapped cast-off assets from foreign banks pulling out of Russia and now the banker says he wants to expand into Europe.Kim, 47, emerged with his partners as an asset consolidator after the global crash of 2008 forced Western banks to downsize, buying the Russian commercial banking units of Barclays, WestLB, Morgan Stanley and Santander."We are looking at different assets, including in Central and Eastern Europe," Kim told Reuters exclusively this week."I don't buy minority stakes. To meet professional challenges and ambitions, controlling stakes are interesting."Kim bought Expobank from Barclays for less than book value in 2011, and it now has opened a unit in Latvia, a European Union member state that attracted increasing Russian financial flows as Cyprus, a favored offshore haven, teetered.Russian investors featured among those moving money out of Cyprus before its banking system was shut down in March, ahead of an EU-ordered bailout that imposed heavy losses on large depos...

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  1. Goldman Sells ICBC Stake for $1.12 Billion

    Goldman Sachs Group Inc. (GS) has sold its remaining stake in Industrial & Commercial Bank of China Ltd. (1398.HK) for around US$1.12 billion, exiting an investment ...

  2. Goldman Sachs Raising $1.1 Billion From Sale of Remaining Stake in ICBC -Term Sheet

    Goldman Sachs Group Inc. (GS) is selling its remaining stake in Industrial & Commercial Bank of China Ltd. (1398.HK) for around US$1.1 billion, exiting an investment...

  3. Goldman Sachs Selling ICBC Stake

    Goldman Sachs Group Inc. (NYSE:GS) is selling its entire stake in Industrial & Commercial Bank of China Ltd. for around US$1.1 billion, exiting an investment it made...

  4. Goldman Sachs Raising $1.1 Billion Via Selling Entire Stakes In ICBC -Term Sheet

    Goldman Sachs Group Inc. (GS) is selling its entire stake in Industrial & Commercial Bank of China Ltd. (1398.HK) for around US$1.1 billion, exiting an investment it...

  5. Goldman Sachs to exit ICBC with $1.1 billion stake selldown: IFR

    Goldman Sachs launched on Monday a sale of about $1.1 billion worth of Hong Kong-traded shares in Industrial and Commercial Bank of China <1398.HK>, offering to sell...

  6. Insight: Despite curbs, China's vast hot money triangle flourishes

    ZHUHAI, China/HONG KONG (Reuters) - In an underground mall just a stone's throw from China's teeming border with Macau, a row of 30 small shops with identical golden...

  7. Wall Street bonuses, staff levels to rise in 2013: consultant

    Wall Street bonuses and staff levels are expected to rise this year as trading and dealmaking activity pick up, according to a closely watched report released on Fri...

  8. CEO of SocGen Russia unit held over suspected kickbacks

    The chief executive of Societe Generale's Russian unit was detained on Wednesday on suspicion of taking bribes, dealing a blow to one of the few foreign banks that h...

  9. China Banking System April Net Forex Purchases CNY294.4 Billion

    China's central bank and financial institutions bought a net 294.4 billion yuan ($47.48 billion) of foreign currency in April, compared with a net purchase of CNY236...

  10. ASIA MARKETS: Japan's Nikkei Jumps To Reclaim 15,000, Lead Asia

    Japanese shares soared Wednesday on the back of a weaker yen and strengthening expectations for earnings growth, sending the benchmark Nikkei Stock Average above the...

  11. Analysis: For all the debt, there's a shortage of bonds

    Debt may be everywhere but there's a scarcity of bonds.With governments awash with debt and furiously selling new securities to fund bloated budget deficits, the ide...

  12. ASIA MARKETS: Japan's Nikkei Reclaims 15,000; Asia Stocks Mixed

    Japanese shares soared Wednesday on the back of a weaker yen and strengthening expectations for earnings growth, sending the benchmark Nikkei Stock Average above the...

  1. Factbox: Foreign banks in Russia

    Foreign banks that once treated Russia as an undiscovered country where easy money could be made are now finding it a cut-throat market tougher than some bargained f...

  2. China Big Four Banks' New Lending Surged in May

    China's four largest banks issued 233 billion yuan ($38 billion) new loans in the first 21 days of May, up 30% from the same period a month earlier, the 21st Century...

  3. China Big Four Banks New Lending Surged in May - Report

    China's four largest banks issued 233 billion yuan ($38 billion) new loans in the first 21 days of May, up 30% from the same period a month earlier, the 21st Century...

  4. Temasek Bought US$198 Million Of ICBC Shares Sold By Goldman Sachs

    Singapore state investment company Temasek Holdings Pte. Ltd. bought part of the shares sold by Goldman Sachs Group in Industrial & Commercial Bank of China Ltd. (13...

  5. ASIA MARKETS: Hong Kong, Sydney Stocks Fall; Tokyo Ends Up

    Australian stocks declined, and Hong Kong equities snapped a three-day winning run on Tuesday, weighed by overnight losses on Wall Street and uncertainty over U.S. m...

  6. ASIA MARKETS: Hong Kong, Sydney Stocks Fall; Tokyo Seesaws

    Australian stocks declined, and Hong Kong equities pulled back from a three-day winning run on Tuesday, weighed by overnight losses on Wall Street and uncertainty ov...

  7. Hong Kong Stocks Retreat; ICBC Shares Drop

    Hong Kong stocks on Tuesday retreated after a three-day winning streak, with Industrial & Commercial Bank of China Ltd. sliding on news Goldman Sachs Group Inc. sold...

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