December 15, 2017 / 7:13 AM / in 2 months

Russia's Aksakov: Promsvyazbank rescue won't affect other banks

MOSCOW, Dec 15 (Reuters) - The Russian banking sector will not be affected by the central bank’s decision to bail out Promsvyazbank, the country’s 10th largest lender by assets, TASS news agency cited the head of the Russian banking association as saying on Friday.

Anatoly Aksakov, the head of Russia’s regional banks association and a member of the Duma finance committee, also said Promsvyazbank’s bailout would be the last such rescue of a bank this year.

The Bank of Russia said on Friday it was putting Promsvyazbank under temporary administration, the third such bailout in the Russian banking sector this year. (Reporting by Maria Kiselyova; Writing by Andrey Ostroukh; Editing by Jack Stubbs)

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