Andrey Rudakov | Bloomberg | Getty Images
Russia's central bank said it would will provide a
mid-sized bank to with up to 30 billion rubles ($530 million) to stop it
going bankrupt, in the first bailout of its kind during the current
ruble crisis.
The central bank's Deposit Insurance Agency, responsible for managing crisis-hit lenders, would also take over supervision of Trust Bank as of Monday, it said in a statement.
In all Russia's banking sector, under increasing pressure from a plummeting ruble and western sanctions over Ukraine, could get a capital boost of up to 1 trillion rubles under a new law being prepared by the government.
The central bank will soon choose a leading investor for bailing out Trust Bank, which is likely to be one of the country's major banks, it said.
Read MoreTrack the Russian ruble
The central bank's Deposit Insurance Agency, responsible for managing crisis-hit lenders, would also take over supervision of Trust Bank as of Monday, it said in a statement.
In all Russia's banking sector, under increasing pressure from a plummeting ruble and western sanctions over Ukraine, could get a capital boost of up to 1 trillion rubles under a new law being prepared by the government.
The central bank will soon choose a leading investor for bailing out Trust Bank, which is likely to be one of the country's major banks, it said.
Read MoreTrack the Russian ruble
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