Russia's Central Bank to Evaluate NSPK for Partial Privatization
The Central Bank of Russia plans to evaluate National Payment System (NSPK) and initiate partial privatization, with potential buyers including major banks and tech companies, while maintaining control over the company.
Consensus
- The Central Bank of Russia is evaluating National Payment System (NSPK) for partial privatization.
- The Central Bank plans to conduct negotiations with potential participants in October.
- The Central Bank intends to retain a controlling stake in NSPK (at least 50% + 1 share).
- The sale will involve no more than a 5% share of NSPK to a single buyer.
- The evaluation of NSPK is nearing completion.
- NSPK was created in 2014 following sanctions against Russia.
- NSPK processes transactions for international payment systems Visa and Mastercard.
- Visa and Mastercard suspended operations in Russia in March 2022 due to the conflict in Ukraine.
- The Central Bank of Russia is the sole shareholder of NSPK.
Points of divergence
- Experts estimate NSPK's value at 500–700 billion rubles, with a 5% stake costing 25–35 billion rubles. — kommersant
- The Central Bank views potential buyers as partners for developing payment infrastructure, not profit-oriented investors. — kommersant
- Experts note that the large-scale digital ruble project is not led by NSPK, making the sale seem unclear. — kommersant
- VTB has expressed interest in purchasing a 5% stake in NSPK. — interfax
- The Central Bank expects the market valuation of NSPK to be completed by the end of 2026, with the transaction expected in 2027, though it may be accelerated. — interfax
- VTB's CEO stated they are interested in acquiring a 5% stake, and the bank will consider participation after the valuation is complete. — interfax
Coverage (3 sources)
- Central Bank will assess the share of the National Payment Card System being put up for sale — Коммерсантъ
- VTB interested in buying stake in NSPK — Интерфакс
- Central Bank of Russia may start negotiations on sale of NSPK in October — Интерфакс
Key entities
- NSPK
- CB
- Bank of Russia
- Moscow
- INTERFAX.RU
- VTB
- Elvira Nabiullin
- Andrey Kostin
- World
- National Payment System
- NDA
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