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IPFS News Link • Russia

Russian Central Bank Bails Out Otkritie Bank, Country's Largest Private Lender

• http://www.zerohedge.com, by Tyler Durden

That changed moments ago, when the Russian central bank announced on Tuesday afternoon it has bailed out Otkritie Bank, which according to Interfax, "ranks 1st among privately-owned banks and 4th by assets among banking groups in Russia."

Otkritie Bank's clients include (as of 2016), 29,000 corporations 163,000 SMEs and 3.4 million individuals, including high net worth individuals. The Bank has 400 offices across Russia.

From Reuters:

RUSSIA'S C.BANK SAYS HAS DECIDED TO BAIL OUT OTKRITIE BANK, ONE OF THE COUNTRY'S LARGEST PRIVATE LENDERS - Reuters - 10:00 AM Eastern Daylight Time Aug 29, 2017
RUSSIA'S C.BANK SAYS TO BECOME SHAREHOLDER IN OTKRITIE BANK
RUSSIA'S C.BANK SAYS WILL NOT USE BAIL IN SYSTEM
RUSSIA'S C.BANK SAYS OTKRITIE BUSINESSES TO CONTINUE OPERATING AS USUAL


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