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. Last Updated: 07/27/2016

No SBS-Agro Payments

MOSCOW -- Russia's national savings bank, Sberbank, denied in a statement Thursday it would begin paying former SBS-Agro depositors in the next few days.

A senior Central Bank official had said Wednesday that on Thursday or Friday, Sberbank would start returning savings to former SBS-Agro clients under a government-guarantee scheme. But the Sberbank statement said the bank still had problems with transferring deposits from SBS-Agro.

The statement said Sberbank branches will pay SBS-Agro depositors outside Moscow first, but no date has been set yet for the beginning of repayments. "Sberbank will make every effort to get things going before the end of the year," the statement said.