Russian central bank becomes sole shareholder in failed bank

Central Bank of Russia
The Bank of Russia

Russia’s central bank has effectively become the sole shareholder in the large failed commercial bank that it took over in August.  

The Bank of Russia announced on December 11 that it had bought 99.9% of the shares of Otkritie Bank, which it closed on August 29. The central bank said it had injected RUB456.2 billion, equivalent to approximately $7.8 billion, into the bank. Vasily Pozdyshev, one of the central bank’s deputy governors, said in September that he estimated that Otkritie would need

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.