Deodato Posted April 18, 2008 Share Posted April 18, 2008 JKB, Given that banks like UBS have now written down the value of a small developed country, I was wondering if there is any news of Romanov's bank being exposed to the credit crunch. My initials are that he would be insulated from Sub Prime and LIBOR issues, but the main kicker in the city just now is those ugly looking SPVs rolling back (onto) the balance sheet, again. Its gonna hurt, for a long time to come.I could imagine Romanov having exposure there. Grateful for any intel and thoughts on this one, and apologies if its already been debated. (PS: Buffalo and Co, see you in Diggers tomorrow?) Deodato Link to comment Share on other sites More sharing options...
Dirk Diggler Posted April 18, 2008 Share Posted April 18, 2008 Report somewhere yesterday that UKIO had performed well in comparison. Someone will post it i'm sure. Many others will be quick to ridicule it. Link to comment Share on other sites More sharing options...
boabyarsebiscuit Posted April 18, 2008 Share Posted April 18, 2008 JKB, Given that banks like UBS have now written down the value of a small developed country, I was wondering if there is any news of Romanov's bank being exposed to the credit crunch. My initials are that he would be insulated from Sub Prime and LIBOR issues, but the main kicker in the city just now is those ugly looking SPVs rolling back (onto) the balance sheet, again. Its gonna hurt, for a long time to come.I could imagine Romanov having exposure there. Grateful for any intel and thoughts on this one, and apologies if its already been debated. (PS: Buffalo and Co, see you in Diggers tomorrow?) Deodato No worries. The Aluminium price went up today. Link to comment Share on other sites More sharing options...
Buffalo Bill Posted April 18, 2008 Share Posted April 18, 2008 JKB, Given that banks like UBS have now written down the value of a small developed country, I was wondering if there is any news of Romanov's bank being exposed to the credit crunch. My initials are that he would be insulated from Sub Prime and LIBOR issues, but the main kicker in the city just now is those ugly looking SPVs rolling back (onto) the balance sheet, again. Its gonna hurt, for a long time to come.I could imagine Romanov having exposure there. Grateful for any intel and thoughts on this one, and apologies if its already been debated. (PS: Buffalo and Co, see you in Diggers tomorrow?) Deodato I can't make it tomorrow, mate. But I'll see you around. Buffalo Bill . Link to comment Share on other sites More sharing options...
Coco Posted April 19, 2008 Share Posted April 19, 2008 From my cursory glance over the Ukio Bankas financial results, it has as yet had no impact. Ukio Bankas' share price of course has fallen since last summer, though it has perhaps done a bit better than Western big banks. I don't think that there is any public information about UBIG's finances. People quote an assets figure and a turnover figure. But I have not seen a profit figure or how they are financed. Given that they have grown quite quickly in immature markets it is possible that they may be having issues with their debt. I wonder where they think that they are going to get the outside finance for what someone quoted as half a billion pounds (or perhaps euros) worth of real estate related developments. Those markets are seizing up. Link to comment Share on other sites More sharing options...
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