Russia Is Bailing out Another One of its Biggest Banks

Russia’s central bank on Friday put the country’s 10th largest private lender by assets under temporary administration, the third such bailout in the Russian banking sector in the space of three months.

The central bank said in a statement it was providing funds to support Promsvyazbank‘s liquidity and would send in temporary administrators.

It said there would be no moratorium on Promsvyazbank meeting creditors’ claims, and that the bank was operating as normal.

“As part of...

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