September 20, 2017 / 1:15 PM / a year ago

Russia's developer Inteko says business not hurt by B&N situation

MOSCOW, Sept 20 (Reuters) - Russian real estate developer Inteko said on Wednesday it had no credit lines open in Russia’s B&N Bank, and the situation with the lender would not affect its business.

“The construction of all facilities by Inteko Group is proceeding in line with an approved schedule,” it said in a statement. “No problems with financing arise.”

Inteko is owned by Safmar Group, which owns B&N Bank. B&N Bank, the country’s 12th biggest lender by assets, has sought a bailout from the central bank. (Reporting by Olga Sichkar; Writing by Dmitry Solovyov; Editing by Polina Devitt)

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