VEB steps in to buy Globex Bank
The news comes just days after reports of a run on Globex, which was believed to have temporarily suspended early withdrawals from term deposit accounts.
Disclosing that VEB will buy Globex for 5000 rubles, and that the buyout would enable Globex to honour its commitments without disruption to the financial system, Vladimir Dmitriyev announced,
“The government and Central Bank have agreed to us buying Globex for a symbolic amount. Just as we did with Sviaz Bank, we'll be taking the whole bank and start to help it out, partly with a deposit that the Central Bank will make with us,”