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Russia's Promsvyazbank sees liquidity risks for sector down after c.bank rescues Otkritie
August 30, 2017 / 11:14 AM / 3 months ago

Russia's Promsvyazbank sees liquidity risks for sector down after c.bank rescues Otkritie

MOSCOW, Aug 30 (Reuters) - Promsvyazbank, one of Russia’s top private lenders, said on Wednesday it expected liquidity risks in the domestic banking sector to go down after the central bank decided to rescue its larger peer Otkritie this week.

“We work with Otkritie on the basis of mutual limits but given that Otkritie has left the interbank lending market in July, Promsvyazbank has no risk from it,” the bank said in emailed comments to Reuters.

Fitch ratings agency this month included four banks in a report about liquidity risks in the Russian banking sector. They were Otkritie, Promsvyazbank, B&N Bank and Credit Bank of Moscow.

B&N Bank did not immediately reply to a Reuters request for comment. Credit Bank of Moscow said it has no exposure to Otkritie and saw now risks.

Shares in Promsvyazbank were up 0.8 percent as of 1051 GMT after falling 2.5 percent on Tuesday to their lowest level since early August. (Reporting by Katya Golubkova and Andrey Ostroukh)

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