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Rossiya Bank's ?620MLN Stuck in Cyprus
2.07.2013 10:11
Rossiya Bank's ?620MLN Stuck in Cyprus
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Rossiya Bank has €620 million frozen in Cyprus, according to its IFRS report.

      The news comes as a surprise to analysts who give conflicting theories as to why the bank would keep such a large amount in a jurisdiction where rough times started long before the authorities froze all assets.

      The good news is that the money is kept in a bank which avoided a deposit haircut, which means it will be available once the government lifts the freeze. 

Sources: http:// 

Author: Mikhail Vesely

Tags: Rossiya Bank Russian banks    

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