Urals | Finance, business

Sberbank’s $152m Ekaterinburg bank bailout

17 Oct '08
Sberbank has granted two loans worth a total of $152.3m to Ekaterinburg regional banks Severnaya Kazna and the Ural Bank for Reconstruction and Development (UBRD), sources in the bank reported earlier today.

The loans are to stabilize a tumultuous situation in the local banking sector caused by mass withdrawals.

As Marchmont reported earlier today, clients of the Ural Bank for Reconstruction and Development (UBRD) had withdrawn around $100m from their accounts over the past two weeks.
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