You are here

Otkritie bank's bailout likely to be biggest in Russia's history

Central bank's aid through money printing, capital injection may total US$6.9b

BT_20170904_CPCAP4_3067826.jpg
A confluence of events - including burdensome acquisitions, market rumours and a chain reaction of depositor withdrawals - became too much for Otkritie to handle on its own.

Moscow

RUSSIA'S Otkritie bank has a hole in its balance sheet that could be as large as US$6.9 billion, a central bank deputy governor told Reuters, a shortfall that would make the bailout now underway the biggest in Russia's history.

Earlier last week, the central bank announced

sentifi.com

Market voices on:

Powered by GET.comGetCom