Bank of Russia takes over major commercial bank
Deputy governor says there is evidence of “misleading” reporting from Bank Jugra
The Bank of Russia has taken control of major lender Bank Jugra, after it was deemed a “threat” to both its creditors and depositors.
A statement published by the central bank on July 10 says the Deposit Insurance Agency has been placed in charge of the institution, which is the thirtieth largest bank in Russia in terms of assets. The agency will now manage the bank for six months.
During this period, the powers of the shareholders and managing bodies in terms of authorising capital are
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