Russian central bank becomes sole shareholder in failed bank
Central bank injects approximately $7.7 billion into Otkritie
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
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