Central bank worries about higher state control over banking system

RECREATION HOUSE BOR, Moscow Region, Feb 2 (PRIME) -- The central bank is concerned with high state control over Russia’s banking sector and the regulator is interested in selling off bailed-out banks as soon as possible, Chairwoman Elvira Nabiullina said on Friday.

“Of course, we are worried about a relatively large state share in the banking sector. That is why we intend to sell the banks, which we are currently bailing out, on the market as soon as possible on condition that their business models are effective,” she said.

“Generally, we are not interested in expansion of the state.”

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