Bank of Russia Pledges to Rescue Trust as Ruble Crisis Hits
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Russia’s central bank provided a 30 billion-ruble ($531 million) bailout for National Bank Trust, its biggest rescue since the ruble crisis began this month.
The Deposits Security Agency will take control of National Bank Trust, one of the country’s top 15 lenders by retail savings, while the central bank selects an investor to help shore up the company, the Bank of Russia said in a statement today.