May 16, 2019 / 7:28 AM / 2 months ago

Russia's central bank does not see more major bank bailouts

MOSCOW, May 16 (Reuters) - Russia’s central bank does not expect to have to bail out more major commercial banks, as it did in 2017, as it has completed about three-quarters of its plan to clean up the banking system, First Deputy Chairman Dmitry Tulin said on Thursday.

Russia has spent around $80 billion on the clean-up and may need another $10 billion in the next two to three years to complete the revamp, according to Fitch ratings agency. (Reporting by Elena Fabrichnaya; Writing by Andrey Ostroukh; Editing by Mark Potter)

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