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Exclusive: Russia expects to recover far less from 'bad bank' assets - sources

Reuters  |  MOSCOW 

By Tatiana Voronova and Darya KorsunskayaMOSCOW (Reuters) - Russia will dramatically cut its estimate of the sum it expects to recover from a "bad bank" set up after the collapse of three major lenders, according to three sources familiar with new calculations being prepared for the central bank. The central bank has spent over $40 billion bailing out Otkritie, B&N and Promsvyazbank since 2017. It had hoped to recover between 40 and 60 percent of the value of their 2 trillion roubles ($30.45 billion) assets that were transferred to Trust Bank, the bad bank, in the rescue deal. But the ...

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First Published: Tue, February 12 2019. 12:44 IST