Bank of Russia says cost of major bailout is rising
Central bank makes further capital injection into failed lender Otkritie
The Bank of Russia has said the cost of bailing out a large commercial bank that failed last year has risen further.
The central bank said in a statement that it was injecting capital worth 42.7 billion rubles, or approximately $688 million, into Otkritie Bank. The capital will be provided in return for newly issued shares in Otkritie, of which the central bank is already the 99.9% owner.
The money will mainly be used to provide funding to several state-owned entities that Otkritie deals with
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