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Russia to bail out Trust Bank with up to 30b roubles

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Published Mon, Dec 22, 2014 · 09:50 PM

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Moscow

RUSSIAN mid-sized lender Trust Bank is to receive up to 30 billion roubles (S$717.5 million) from the central bank to stop it going bankrupt in the first bailout of its kind during the current rouble crisis.

The central bank said that its Deposit Insurance Agency, responsible for managing crisis-hit lenders, would take over interim supervision of Trust Bank as of Monday.

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