Russia’s M2M Private Bank fails to redeem 329 mln rbl repo money

MOSCOW, Nov 8 (PRIME) -- Moscow-based M2M Private Bank has failed to redeem 329.4 million rubles of liabilities under a repo deal, as seen by PRIME on Tuesday in materials of the Moscow Exchange.

The bank received the money in exchange for bonds of VEB-Leasing on November 3, and was to return the money until Monday and received an official warning, the bourse said.

M2M Private Bank was ranked 156th largest bank by assets as of late June, and it is 100% owned by Asian-Pacific Bank.

(63.9074 rubles – U.S. $1)

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