October 16, 2019 / 11:26 AM / a month ago

Russia plans to inject extra 10 bln rbls in Promsvyazbank in December - TASS

MOSCOW, Oct 16 (Reuters) - Russia plans to inject an extra 10 billion roubles ($156 million) into defence sector lender Promsvyazbank in December if budget amendments are approved by parliament, Deputy Finance Minister Alexei Moiseev said on Wednesday, TASS agency reported.

Promsvyazbank was a commercial bank until it was bailed out and nationalised in 2017. It was later turned into a bank specialising in defence sector loans to reduce the exposure of other lenders to potential sanctions. ($1 = 64.2275 roubles) (Reporting by Maria Kiselyova and Andrey Ostroukh; writing by Tom Balmforth; editing by Andrey Ostroukh)

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