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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

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.


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...

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