As Russia swoops in for rescue, owners leave Otkritie fending for itself

Private lenders have been closing in droves amid a cull by the central bank

As Russia’s second-biggest private bank implodes, its billionaire owners have been conspicuous by their absence. By leaving Bank Otkritie to fend for itself, the four shareholders controlling more than a third of the company — their combined fortune valued at over $20 billion — may be giving the authorities little choice but to swoop in with a rescue. Now the central bank could be left holding the bag as it considers taking control of the troubled lender amid a run on its deposits.  
 

“Minority owners are less incentivised to provide support,” said Alexander Danilov, a Fitch Ratings analyst. “The