Banks Sovcombank News Today : Breaking News, Live Updates & Top Stories | Vimarsana

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MOSCOW, March 10 (Reuters) - Russia’s Sovcombank has no immediate plans for an IPO and doesn’t intend to bring forward a 2024 deadline, despite a pick up in new issues, as investor sentiment towards the banking sector remains mixed, co-owner Sergei Khotimsky told Reuters.
Sovcombank’s plans are in focus amid a pick-up in Russian initial public offerings (IPO), with retailer Fix Price raising $2 billion in an IPO last week.
Russia’s third largest private bank hired banks last year to prepare for the deal, sources familiar with the matter said.
However, Khotimsky said the timing of the IPO would depend on how investors assess the bank’s efforts to deal with non-performing loans (NPLs) in 2021. ....

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