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. Last Updated: 07/27/2016

Bank Wants IFC Input

MOSCOW -- International Moscow Bank, one of Russia's biggest banks, is trying to tempt the International Finance Corporation to take a 20 percent stake by the end of the year, the bank's chairman said Tuesday.

"We have been for several months in the discussions with IFC, the International Finance Corporation, a subsidiary of the World Bank, in order to get them as a new shareholder to the bank," Hannu Halttunen said at a news conference.

"We have the target to conclude those negotiations by approximately mid-December this year."

The IFC was not immediately available for comment. Halttunen said he hoped the IFC would take a 15 to 20 percent stake in International Moscow by buying part of a $40 million share issue.