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. Last Updated: 07/27/2016

Stolichny Goes Dutch

MOSCOW -- Stolichny Bank, one of Russia's largest commercial banks, announced Friday it had received a license to open a branch in the Netherlands. Alexander Kaganov, head of Stolichny's analytical department, said that the Dutch state bank De Nederlandshe Bank N.V. had set up "strict terms" for Stolichny. Out of the new branch's three directors, two will be Dutch, and the ratio of Dutch to Russian personnel must be 5:1, he said