Central Bank: we do not expect shocks in the banking market

The Central Bank does not expect "no shocks" in the Russian banking sector in the foreseeable future. This was stated by First Deputy Chairman of the Central Bank Dmitry Tulin, commenting on the decision to introduce a temporary administration in Otkritie Bank.

According to him, there would be risks if "we were talking about the revocation of a license or a moratorium on meeting requirements."

“Now we are talking about a significant increase in the financial stability of the bank,” RBC quotes Tulin.

• On August 29, the Central Bank announced that a temporary administration was being introduced at Otkritie Bank (until recently the largest private bank in the Russian Federation). This was preceded by the withdrawal of clients from the bank at least 630 billion rubles amid rumors about its precarious position. The Central Bank will become the owner of 75 percent of the shares of Otkritie.
• The Central Bank claims that Otkritie will continue to operate as usual and the changes will not affect customer service. The technical support of Rocketbank, which is part of Otkritie, called the situation "winning" for customers.