Interfax reports that yesterday Russia’s central bank came to an agreement with owners and shareholders of Otkritie Bank which had suffered a run on its deposits. Russia’s largest private lender and the seventh largest by assets, the bank has links to major state enterprises. They have not put a figure on the bail-out but they will take a 75 per cent stake after assessing its current financial position; it will possibly be the biggest ever Russian rescue.
To continue reading, register today
to enjoy limited access to the following:
- Daily trading news
- Funds coverage
- Features on big investment themes
- Comprehensive companies coverage
- Economic analysis