Alfa-Bank keeps 5,000 rbl worth of OFZ bonds to stay in program

MOSCOW, Apr 7 (PRIME) -- Russian Alfa-Bank has kept one OFZ government bond of each series totally worth 5,000 rubles to stay involved in the government recapitalization program of the Deposit Insurance Agency and preserve preferences, a spokesperson for the bank said on Friday.

Several Russian banks received a 800 billion ruble state assistance in the form of OFZ bonds in 2015 with the country’s second biggest lender VTB Bank being the biggest contributor to the program who received over 300 billion rubles.

On Wednesday, Alfa-Bank said it returned about 63 billion rubles worth of the bonds to the government ahead of schedule. The bank added that it keeps all privileges and preferences as participant of the program such as the possibility to cooperate with state-run companies, corporations and non-budget funds, as well as an option to attract and deposit available budget funds.

(56.4369 rubles – U.S. $1)

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