Sberbank - TBC Bank Group (TBCG) ... Debt Markets Today - August 19, 2021. Russian Weekly Inflation Print; OFZ Auctions Recap; STLC, EuroChem, TBC Bank Results

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Sberbank

Alisa Zakirova ...

Andrew Keeley
Anton Stroutchenevski
Artem Vinogradov
Arthur Cherkesov
Ekaterina Sidorova
Igor Rapokhin
Research Team
Sergey Kolesnikov, FRM

Debt Markets Today - August 19, 2021. Russian Weekly Inflation Print; OFZ Auctions Recap; STLC, EuroChem, TBC Bank Results

CIS EUROBOND MARKETRussian sovereign and corporate Eurobond quotes saw minimal changes yesterday. Activity was concentrated in Evraz, Lukoil and NLMK issues, though only the Nordgold 24 saw any kind of notable movement (it added 0.2 pp in price). In the rest of the CIS sovereign Eurobond market, trading was also flaccid. The Belarusian sovereigns were outliers with their 0.1-0.3 pp losses for the day (support from local investors has faded recently).GOVERNMENT DEBTOn the day, OFZ yields rose 1-2 bps at the long end, pushed higher by a weakening ruble and rising US Treasury yields. Short-dated and intermediate yields finished flat. Trading volumes were close to the monthly average at R35 bln. We think OFZ yields could add another 1-2 today due to the risk-off mood in global markets.STORIES> Weekly inflation in Russia holds at zero> Finance Ministry again places highest volume of OFZs since April> State Transport Leasing Company posts 1H21 IFRS results> EuroChem publishes 1H21 results> TBC Bank 2Q21 IFRS: An excellent quarter

19/08/2021 49 EN

Underlyings

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.

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GB00BYT18307 London Stock Exchange United Kingdom

TBC Bank Joint Stock Co

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US87217U2087 Georgia

Provider

Sberbank

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.

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Analysts

Alisa Zakirova

Andrew Keeley

Anton Stroutchenevski

Artem Vinogradov

Arthur Cherkesov

Ekaterina Sidorova

Igor Rapokhin

Research Team

Sergey Kolesnikov, FRM

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Debt Markets Today - August 19, 2021. Russian Weekly Inflation Print; OFZ Auctions Recap; STLC, EuroChem, TBC Bank Results

TBC Bank Group: 1 director

The Rear-View Mirror – EME markets: Poland outperforms; Türkiye declines

WOOD Flash – Georgia macro: insights on a Ukraine deal spillover to Georgia

Russian Consumer - Unemployment and Income: The Outlook for 2022

Russian Banks - What We Know at This Stage

Commodities Daily - March 24, 2022

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