December 20, 2017 / 12:15 PM / in a year

Russia's Otkritie asked to return 28 bln rbls transferred for Trust bailout

MOSCOW, Dec 20 (Reuters) - Russia’s Otkritie Holding said on Wednesday it had been asked by the Deposit Insurance Agency to return the 28 billion roubles ($477.3 million) it transferred for the bailout of Trust Bank.

Otkritie Holding is taking all necessary steps to make good on its obligations, it said. It said the bailout sum in question was still deposited in Trust Bank “due to the uncoordinated actions by the Deposit Insurance Agency and the central bank”.

Russia’s central bank bought over 99.9 percent of Otkritie Bank last week, as a part of its bailout of what was once Russia’s largest private bank.

Separately, Otkritie Holding said at the time that Otkritie Bank and Trust Bank had restructured Otkritie Holding’s loans worth 174 billion roubles ($3 billion). ($1 = 58.6685 roubles) (Reporting by Tanya Voronova; Writing by Dmitry Solovyov; editing by Vladimir Soldatkin)

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