August 20, 2019 / 12:36 PM / a month ago

Russia's state development bank to get 173 bln rbls from Sviaz debt deals - Ifax

MOSCOW, Aug 20 (Reuters) - Russian state development bank VEB will receive about 173 billion roubles ($2.60 billion) in capital from deals related to Sviaz Bank’s debt, the Interfax news agency cited sources as saying on Tuesday.

Sviaz Bank merged with another lender, Globex, last year, after their owner, VEB, failed to sell them both. VEB took over the banks from private owners under a state-agreed bailout after the 2008 global financial crisis.

$1 = 66.6150 roubles Reporting by Maria Grabar; writing by Tom Balmforth; editing by Andrew Heavens

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