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. Last Updated: 07/27/2016

NRB Eyes Bond Issue

MOSCOW -- The National Reserve Bank said Friday that it would issue convertible bonds worth 20 percent and 30 percent of its capital for sale to foreigners if the Central Bank and Inkombank creditors approve its takeover of Inkombank.

"Our bank has already made this political decision," NRB deputy board chairman Alexander Rubstov said. "We are willing to admit foreigners to take part in the capital."

This is the latest offer from the National Reserve Bank, which has been trying for some time to buy out Inkombank. The Central Bank revoked Inkombank's license last month.