February 12, 2019 / 11:07 AM / 3 months ago

Russia's Trust Bank recovers 230 bln rbls in bad assets in 2018

MOSCOW, Feb 12 (Reuters) - Russia’s Trust Bank recovered 230 billion roubles ($3.51 billion) in bad assets last year, the head of the lender said on Tuesday.

Trust Bank was a part of one of the three major banking groups bailed out by the central bank since 2017. The banks were since then split to ‘good’ and ‘bad’ ones, with Trust becoming a ‘bad’ assets bank.

Reuters reported earlier on Tuesday that Russia is set to dramatically cut its estimate of the sum it expects to recover from a “bad bank” due to the previous overestimation. ($1 = 65.5845 roubles) (Reporting by Tatiana Voronova; writing by Tom Balmforth; editing by Louise Heavens)

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