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. Last Updated: 07/27/2016

EBRD Buys Bank Stake

MOSCOW -- The European Bank for Reconstruction and Development has purchased a 2.28 percent stake in one of Russia's biggest banks, Inkombank, Inkombank said Monday.

A spokesman said the purchase was made from a new issue of 236 million ordinary shares, of which placement started in November. Previously the EBRD said it planned to acquire a 10 percent stake in Inkombank.

The EBRD already has stakes in two Russian banks, which include Avtobank and Tokobank.