Europe’s larger investment bank offers services to Tatarstan

One of Europe’s largest investment banks Credit Suisse could offer a scope of financial services to companies in Tatarstan. The statement was made at a meeting between bank officials and Tatarstan President Rustam Minnikhanov.

The meeting took place at the Kazan Kremlin and was attended by the Credit Suisse Chief Executive in Europe, Middle East and Africa Fawzi Kyriakos-Saad, Credit Suisse Managing Director in Kazakhstan Antanas Petrosius and Credit Suisse Russia Vice-President Max Kushner. Tatarstan was at the meeting represented by the Energy Minister Ilshat Fardiev, Economy Minister Midkhat Shagiakhmetov, TAIF General Director Albert Shigabutdinov, Ak Bars Bank Board Chairman Robert Musin and Svyazinvestneftekhim General Director Valery Sorokin.

Fawzi Kyriakos-Saad said Credit Suisse specialised in investment banking, private banking and asset management. The company’s personnel are over 49 thousand.

The bank’s assets as of January 1, 2010 totalled $1 trillion, managed assets $1.2 trillion, capital $36.3 billion, and market capitalisation $59.5 billion.

The Credit Suisse Russia vice-president Max Kushner said the company had operated in Russia since 1991, its main products being attracting investments, including on the stock market, arranging initial public offering (IPO), and attending to merger and acquisition and bonds issuing deals. M. Kushner noted Credit Suisse had in the recent two years settled 3 deals involving Tatarstan-based banks issuing bonds – two with Ak Bars and one with Tatfondbank.

A Credit Suisse working group in late October visited the Taif Group-owned plants Kazanorgsintez, Nizhnekamskneftekhim and Taif-NK. Obtaining financing from Credit Suisse, to implement Taif’s investment projects, is being considered.

According to the Credit Suisse representatives, the company has a good knowledge of Tatarstan and is interested in offering the complete range of services. The bank is, for instance, willing to arrange obtaining financing for Svyazinvestneftekhim, provide consultations on selling non-core assets and buying new ones. Credit Suisse has offered the same services to Tatneft. Credit Suisse is set to arrange issuing national and foreign currency bonds, as well as a possible IPO.

During the meeting, the parties agreed to review the proposed scenarios of cooperation between Credit Suisse and Tatarstan in more detail.