Russia's central bank has approved a rescue plan for B&N Bank, including a capital increase and liquidity support, the regulator said on Saturday, without saying how much the financial assistance would cost. B&N was the second private bank rescued by the central bank in less than a month, following Otkritie bank.
The capital top-up and extra liquidity for B&N Bank aim "to increase its financial stability and will assist the further development of the credit organisation", the central bank said in a statement sent to Reuters. Central Bank Deputy Chairman Vasily Pozdyshev has said that the financial rehabilitation of B&N Bank may cost 350 billion to 370 billion roubles ($6.1 billion to $6.5 billion).