October 15, 2018 / 10:05 AM / a month ago

Russia plans extra $305 mln capital injection in Promsvyazbank

MOSCOW, Oct 15 (Reuters) - Russia will inject a further 20 billion roubles ($305 million) into bailed-out lender Promsvyazbank’s capital this year, in addition to the 5 billion roubles announced earlier, Deputy Finance Minister Alexei Moiseev said on Monday.

Russia’s central bank took over Promsvyazbank in a bailout last year. The lender was then earmarked by the government to provide credit to the sanctioned entities so that other lenders could offload the risk. ($1 = 65.5655 roubles) (Reporting by Elena Fabrichnaya Writing by Maria Kiselyova Editing by Katya Golubkova)

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