Russian central bank bails out another commercial lender
Asian-Pacific Bank is “socially important” in Siberia and Far East, Bank of Russia says
Russia’s central bank has announced it has taken over another of the country’s commercial banks, and will use state funds to bail the lender out.
Asian-Pacific Bank is smaller than the three lenders bailed out by the central bank last year. The decision to use state funds to rescue it may be a reflection of its regional importance. But the move may also signal an increased willingness by the central bank to bail small banks out.
The Bank of Russia announced it had decided to participate “as an
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