September 20, 2017 / 9:49 AM / in a year

Credit Bank of Moscow sees no direct risks from B&N troubles

MOSCOW, Sept 20 (Reuters) - Russia’s Credit Bank of Moscow (MCB), which was recently included by the central bank in a list of systemically important banks, does not see a risk of direct losses from the problems facing its peer, B&N Bank, it said in an email.

“There is no risk of direct losses for MCB. Only the overall negative market environment may have an effect (on the bank). MCB does not have a risk exposure to B&N bank,” the bank said in reply for a request for a comment.

B&N has asked the central bank for a bailout but a decision is yet to be made. A B&N bailout, if approved, would be the second major bailout in less than a month. (Reporting by Kira Zavyalova; writing by Katya Golubkova; Editing by Christian Lowe)

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