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Tatarstan: A unique republic, A unique investment opportunity

Independent shareholders are voting against unnecessary inter-group transactions.

International banks continue to flock to Turkey, where the lure of a 70 million-plus population that is becoming increasingly bankable presents an almost irresistible attraction. Among the latest entrants to the Turkish banking market is Bank TuranAlem, Kazakhstan’s number two bank by assets. After nine months of negotiations it has secured a 33.98% stake in Sekerbank for TL424.7 million ($256 million). The acquisition was conducted by BTA’s investment banking arm, TuranAlem Securities, whose chief executive, Kairat Bektanov, says that the Sekerbank transaction is part of an expansion strategy that has transformed BTA from a purely Kazakh operation into a major regional player. The bank already has subsidiaries in Armenia, Belarus, Georgia, Kyrgyzstan, Russia and Ukraine as well as representative offices in China, Tajikistan and the United Arab Emirates.

Société Générale has acquired a 100% stake in Banco Cacique, a Brazilian retail firm specializing in consumer credit with 1,800 employees and about 600,000 active clients. A spokeswoman for SG told Euromoney that the move was not indicative of any plan to rush into Brazil but is rather the targeting of a specific market where strong growth is expected.

"Help me.... I’m cold... I don’t know where I am... there are bugs crawling all over me..."

At the centre of the economic policy of the government of Tatarstan is the intention to get the maximum possible value from the Republic’s remaining oil reserves, which means developing and building the most advanced petrochemical refining facilities within Tatarstan itself. The Republic is now supporting several such projects worth over $7 billion in investment.

Tatarstan has a rich history of civilization going back over a millennium. The earliest known state in the region was set up by the Volga Bulgars, who established a successful trade network stretching from the Baltics to the Middle East.

More efficiency in clearing will help increase the importance of Europe’s equity markets.

Financial markets are always dynamic places and constantly evolving as they embrace change. Today’s foreign exchange market is no exception and it is arguably developing at a faster pace than at any other time in its history. So how will it look in five years’ time? Lee Oliver asks leading FX participants to peer into the crystal ball.

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Unsolicited approach looks as if it could get nasty.

Euroweek, Euromoney’s sister publication, threw a lavish bash at London’s Royal Courts of Justice in April to celebrate its 1,000th edition and the 20 years the newspaper has spent covering the trillions of dollars that have been raised in the international capital markets during that period.