Source Pravda.Ru

Russia's largest bank with Turkish capital put up for sale

Russia's largest bank with the Turkish capital, Credit Europe Bank, has been put up for sale due to the deterioration of relations between Russia and Turkey, as well as because of the economic stagnation in Russia.

Other banks with the Turkish capital operating in Russia may follow this example, the Kommersant newspaper wrote.

The bank is to be sold with a slight discount to the capital (the capital amounted to 18.9 billion rubles as of the end of the first half of 2015).

According to Kommersant, Credit Europe Bank is the largest Russian bank with the Turkish capital. Credit Europe Bank NV (Netherlands) owns 99.9% of its shares; the ultimate beneficiary of the bank is a citizen of Turkey, Hüsnü Mustafa Ozjegin. The bank has been operating in Russia since 1994.

The relations between Russia and Turkey deteriorated after a Turkish F-16 fighter shot down a Russian Su-24 bomber in the skies over Syria. After the incident, Turkish President Erdogan did not call his Russian counterpart Putin, but went to seek NATO's support instead.

Pravda.Ru

Read article on the Russian version of Pravda.Ru

Comments
Indian Origin of Egyptian Civilization
ISIS threatens to conduct large-scale terrorist attacks in USA for Jerusalem decision
Why did the USSR lose the Moon race?
US military men depressed over of Russia's new T-5000 sniper rifle
Russia to counter Boeing's Х37В with top secret MiG-41 project
Should Russian athletes go to non-Olympic Games in South Korea?
Russia to rebuild its former Soviet naval base in Syria's Tartus
Donbass without militia will be worse than Srebrenica - Putin
Putin to Sobchak: We will never let them turn Russia into another Ukraine
Should Russian athletes go to non-Olympic Games in South Korea?
Should Russian athletes go to non-Olympic Games in South Korea?
Putin: Russia will continue spending enough on defence not to be killed
Putin: Russia will continue spending enough on defence not to be killed
Russia to rebuild its former Soviet naval base in Syria's Tartus
Russia not pulling out from any international agreements, Putin says
Capitalism reduced Indonesian cities to infested carcases
ISIS threatens to conduct large-scale terrorist attacks in USA for Jerusalem decision
Kim Jong-un's tactic of hard power teaches USA lesson of obedience
Kim Jong-un's tactic of hard power teaches USA lesson of obedience
USA looking for reason to see nuclear weapons in action
Tel Aviv, Jerusalem, capitals and puppets