Cbank confirms plans to sell Otkritie FC Bank in coming years

MOSCOW, Jun 27 (PRIME) -- Russia’s central bank keeps plans to sell Otkritie Financial Corporation (FC) Bank over the next few years, the regulator said on Thursday.

“The central bank confirms plans to sell Otkritie FC Bank in coming years,” it said.

The regulator also said it was against Otkritie FC Bank’s using the slogan of a “state bank of our time” and any marketing campaigns pointing to the government share in the bank.

“The central bank as a financial market regulator and as the main shareholder of Otkritie FC Bank strongly opposes the use of the slogan ‘the state bank of our time’ and any marketing campaigns indicating the state’s share in the bank.”

Otkritie FC Bank was the first large Russian bank that was bailed out by the central bank via the Banking Sector Consolidation Fund in 2017.

End