What Lies Beneath – Russian banks September 2017

Summary:

Two major banks gone in the space of a month On 29 August,the Central Bank announced it was taking measures to restore the financial health of Otkritie, Russia’s seventh largest bank. On 21 September, it made the same announcement about B&N Bank, the twelfth largest. These measures are expected to wipe out the shareholders’ equity of these banks.

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