Russian central bank to lend $1.9 billion to rescue Trust Bank
By Reuters
Dec 26, 2014 04:53 AM EST
Dec 26, 2014 04:53 AM EST
Russia's central bank will provide a 99 billion rubles ($1.9 billion) 10-year loan to mid-sized Trust Bank to help it avert bankruptcy, in Russia's first bailout this year amid a steep devaluation of the rouble.
The central bank said in a statement it will also provide a 28 billion rubles, 6-year loan to bank Otkritie which will oversee the rescue mission for Trust.
© 2024 VCPOST, All rights reserved. Do not reproduce without permission.
Join the Conversation