Andrew Keeley ...
  • Andrey Gromadin
  • Arthur Cherkesov
  • Cole Akeson
  • Fedor Kornachev
  • Mikhail Krasnoperov
  • Research Team

CIS Market Daily - November 19, 2021

MARKET COMMENT - HIGHER INDICATORS THIS MORNING AFTER POLITICAL REMARKS, MAGNIT DEAL DOMINATED NEWS FLOWA 2.3% drop on the RTS left Russia the globe's weakest EM yesterday, coinciding with weakness across the EM basket in the late hours of Moscow's main session and foreign policy remarks from President Vladimir Putin. Markets elsewhere were mixed, the MSCI ACWI ending flat. Global and Russia indicators are mixed this morning, while investors will be digesting the stock and index implications of the Magnit stake sale announced last night.STORIES> Gazprom Neft 3Q21 review: Solid beat on FCF> Bank of St Petersburg 3Q21 IFRS: Strong quarter, long-term guidance raised> TBC Bank reports robust 3Q21 IFRS results> VTB selling its stake in Magnit - implications for VTB> QIWI 3Q21 IFRS preview: Still pressured by CBR restrictions on payments to foreign merchants> VTB selling its stake in Magnit - implications for Magnit
Bank of St Petersburg

Bank St Petersburg PJSC

Bank St. Petersburg OJSC is involved in commercial banking operations within the Russian Federation. Co. is organized into three main segments: Corporate banking, which includes settlement and current accounts, deposits, credit lines and loans; operations on financial markets, which includes financial instruments trading, loans and deposits on the interbank market, dealing in foreign exchange and derivative financial instruments; and retail banking, which provides private customer current accounts, deposits, retail investment products, custody, credit and debit cards, consumer loans, mortgages and other loans to individuals.

Gazprom Neft (GDR)

Gazprom Neft PJSC

Gazprom Neft PJSC is vertically integrated oil company operating in the Russian Federation, CIS and internationally. Co.'s principal activities include exploration, production and development of crude oil and gas, production of refined petroleum products and distribution and market ing operations through its retail outlets. Co.'s Upstream segment includes the exploration, development and production of crude oil and natural gas (including joint ventures results), oil field services. Co.'s Downstream segment processes crude into refined products and purchases and sells and transports crude and refined petroleum products (refining and marketing).

Magnit PJSC

Magnit is a holding company. Through its subsidiaries, Co. operates in the retail and distribution of consumer goods under the Magnit name. Co.'s retail operations are operated through convenience stores, cosmetic stores, hypermarkets and other. Most of its stores are located in the Southern, Central and Volga regions. Co. also operates stores in the North-Western, North-Caucasian, Urals and Siberian regions. As of Dec. 31 2014, Co.'s stores chain consisted of 9,711 stores: 8,344 convenience stores, 190 hypermarkets, 97 Magnit Family stores and 1,080 drogerie stores in 2,108 cities and towns throughout the Russian Federation.

Magnit PJSC Sponsored GDR RegS

Qiwi Plc Sponsored ADR Class B

TBC Bank Group

TBC Bank Group is a holding company. Through JSC TBC Bank and its subsidiaries, Co. is engaged in universal banking operations that include corporate, small and medium enterprises, retail and micro operations within Georgia.

TBC Bank Joint Stock Co

VTB Bank (GDR)


Bank VTB PAO is a Russia-based bank engaged in the provision of financial services. The Bank reports five segments: Corporate-Investment banking includes operations with corporate customers that are large business customers and banking financial institutions, as well as operations on the securities market; Mid-Corporate banking covers operations with medium business corporate customers; Retail business includes operations with individuals and small business corporate customers, and offers operations on Internet and mobile Point-of-Sale acquiring, plastic cards, payroll services and financial consulting, among others; Treasury comprises operations to manage liquidity, operations on financial and interbank markets, cash flow management and debit financing operation; as well as Other business includes two business: Construction and development involves operations undertaken by Company in the construction and development industry, and Other activities represent non-banking business.


​Sberbank CIB Investment Research is a research firm offering equity, fixed income, economics, and strategy research. It covers analysis on all aspects of Russia’s capital markets, issues and industries. The firm analyzes trends in Russia and combines local knowledge with a global perspective. It processes macroeconomic data, market and company-specific news, stock quotes and other information for providing research reports. The firm provides details and latest prices on the most traded names and most traded paper on all segments Russian market. In strategy research, it provides thematic research, tips and descriptions of the methodology used to evaluate companies.

Andrew Keeley

Andrey Gromadin

Arthur Cherkesov

Cole Akeson

Fedor Kornachev

Mikhail Krasnoperov

Research Team

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