Word: savovic
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Dates: during 2000-2009
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...Savov at Credit Suisse says the banking problems could slow domestic investment and industrial growth. But significantly, Russia's most important banks don't appear to be at risk - in fact, their conservative behavior, rather than risky practices, may be holding the economy back. About 40% of the nation's deposits is in the hands of three stodgy institutions with strong ties to the Kremlin - Sberbank, VTB and Gazprombank - that have been increasingly loath to lend to some 1,200 scrappy, smaller rivals. This is contributing to the liquidity squeeze. "It's the second- and third-league firms and banks...
...Some Russia watchers are expecting much more upheaval. Vladimir Savov, an analyst for Credit Suisse in Moscow, sees the recent turmoil as the beginning of a broad consolidation of Russia's highly-leveraged banking sector. "We want to hope that this will improve the resilience of Russia's financial markets in the long term," he says, "although in the near term the process could be painful." Renaissance says it had been in talks for some time and didn't act out of distress. But its move came a few days after the first financial institution fell victim to the crisis...
...booster considering withdrawal, there's someone else who is eager to pile back in. On Aug. 11, Credit Suisse issued a research note arguing that this is a great time to buy Russian stocks. The market "has been punished excessively over the last couple of weeks," wrote analyst Vladimir Savov. "While warfare is never a good thing, fundamentally Russia's economy and infrastructure are not affected ... The likelihood of military involvement of other superpowers is below average. The situation may end soon, to be replaced by diplomatic negotiations." And even as bullets flew in Georgia, U.S. electronics retailer Best...
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