Troika Dialog to avoid major financial changes

Troika Dialog to avoid major financial changes
Troika Dialog, one of Russia's leading brokerage and investment banks, won't make any major decisions on listing, or selling a stake before next year's presidential elections.

The bank's President, Ruben Vardanian, said he's rejected an offer of up to $US 3 BLN. Mr Vardanian wants to develop Troika into Russia's first independent global bank with earnings topping $1 BLN, or five times its current level.

Credit Suisse, JP Morgan and Russia's VTB are reportedly interested in buying Troika. Analysts say without a foreign partner, the bank's growth strategy is too ambitious.