Russia’s biggest commercial bank goes bankrupt

Baku. 31 August. REPORT.AZ/ Russia’s biggest commercial bank and the 8^th biggest bank “Otkritie” has gone bankrupt. Report informs citing the RIA Novosti news agency, the Central Bank of Russia has made a decision to revitalize the “Otkritie” bank to maintain stability in the banking sector.

Therefore, the Russian Bank has decided to implement a completely new mechanism. Thus, the “Otkritie” Bank will be revitalized by the Central Bank of Russia itself and, it will own 75% of the bank’s shares. Analysts noted that this step had been taken to maintain the trust in the banking system and avoid crisis.

Notably, the “Otkritie” Bank owns 400 offices, 29, 000 legal, 163, 000 small and medium companies and the customer portfolio of 3,4 mln. individuals. “Rosgosstrakh” insurance company, “Trust Bank”, “Rosgosstrakhbank”, “LUKoil-garanat,” “Elektroenergetiki”, “RGS” non-state pension funds, “Otkritie Broker” company, “Tochka” project and “Roketa” mobile bank belong to the group managed by the Bank.

Analysts forecast that the Central Bank of Russia does not intend to establish another state bank and is going to put the bank on sale after revitalizing it.