A socially oriented non-financial development institution and a major organizer of international conventions, congress, exhibitions, business, social and sporting, public, and cultural events.

The Roscongress Foundation – a socially oriented non-financial development institution and a major organizer of international conventions, congress, exhibitions, business, social and sporting, public, and cultural events.

The Foundation was established in 2007 with the aim of facilitating the development of Russia’s economic potential, promoting its national interests, and strengthening the country’s image. One of the roles of the Foundation is to comprehensively evaluate, analyse, and cover issues on the Russian and global economic agendas. It also offers administrative services, provides promotional support for business projects and attracting investment, and helps foster social entrepreneurship and charitable initiatives.

Each year, the Foundation’s events draw participants from 208 countries and territories, with more than 15,000 media representatives working on-site at Roscongress’ various venues. The Foundation benefits from analytical and professional expertise provided by 5000 people working in Russia and abroad. In addition, it works in close cooperation with 129 economic partners; industrialists’ and entrepreneurs’ unions; and financial, trade, and business associations from 69 countries worldwide.

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Vasily Pozdyshev

Vasily Pozdyshev

Deputy Governor, Bank of Russia
Quotes
24.05.2018
SPIEF 2018
A Second Life for Banking Assets. New Opportunities for Investment
We are creating fund of non-core and bad assets, which will be managed by the Banking Sector Consolidation Fund (BSCF). We assume that this project has a significant potential for cooperation with two organizations – the DIA and the Russian Direct Investment Fund. It (BSCF – Editor’s note) will manage those assets that he gets on his balance sheet. The goal is to liquidate part of them, to finance others through healthy BSCF and other banks, other market banks, reshuffle those assets and offer them to the market at a higher and fairer price. Then the costs that we incur on additional capitalization and financing of the non-core and bad asset fund will be reduced. We expect to close the volume of assets that will flow into this fund by the end of 2019. The fund is believed to reach the total volume of about 2 trillion roubles. In 3–5 years, all assets of this fund will be liquidated, which means they will be sold to market investors at arm’s length
24.05.2018
SPIEF 2018
A Second Life for Banking Assets. New Opportunities for Investment
We had several large banks with serious problems: lack of capital and chronic liquidity problems. <...>By the end of last year they had a total volume of troubled financial assets of 7 trillion roubles. From this volume, we managed to build one large and healthy financial group by the beginning of 2018 on the basis of Otkrytie Bank, to which Binbank will be merged before the end of this year and which will own Rosgosstrakh and three joint pension funds with a common balance in 3.4 trillion roubles. This group now does not experience any problems either from the point of view of capital or from the point of view of liquidity
24.05.2018
SPIEF 2018
A Second Life for Banking Assets. New Opportunities for Investment
The second life of banking and non-banking assets can happen without liquidation or revoking the license, which is actually better, because the asset value drops critically if they don’t work. <...> Over the past 2.5 years, the Bank of Russia has been actively engaged in discussions on the creation of a new mechanism for financial recovery. First of all, it is intended for the largest credit organizations of systemic importance both for the economy of the whole country and for individual regions. The essence of these procedures is the following: after finding serious problems in a large bank that can’t be stripped of its license due to financial stability reasons, we start operational control of the bank management as soon as possible, increase its capital, create all necessary risk and capital management procedures and it prepare for the market entry