Russia’s Richest Man Expands Banking Empire in Face of Sanctions

Sanctioned Russian tycoon Vladimir Potanin is buying a stake in a digital bank for businesses and expanding his lending empire with the third such purchase since Russia invaded Ukraine.

Potanin’s Interros joined a consortium of investors that already controls about 10% of the digital-banking services provider Tochka. It will buy out the rest from Trust Bank, which controls the lender, according to a statement from the holding company on Monday.