The Trader 

Market Outlook: Central bank to the rescue

The Trader

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.

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