One of Russia’s largest banks is in danger of failing.
Move could be the first time the country’s ‘systemically important’ lenders has failed
by: Max Seddon in Moscow
Russian regulators are preparing a rescue package that would allow them to intervene to save Otkritie, the country’s largest privately held lender, if it succumbs to a growing liquidity crisis, four bankers familiar with the plans told the Financial Times.
Otkritie has lost Rbs611bn ($10.4bn) in deposits — 20 per cent of its balance sheet — in the last two months.
If the central bank did have to intervene, it would mark the first time one of the 10 Russian banks listed as “systemically important” had failed.