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. Last Updated: 07/27/2016

Postal Bank in Works

The Russian government will consider a model for creating a postal bank in July, first deputy chairman of Vneshekonombank Anatoly Tikhonov said Saturday, Interfax reported.

"We will conduct a kick-off meeting [of the government] on a model for creating a postal bank in July," he said.

Tikhonov said Russian Standard Bank and Nomos Bank are being considered as partners in the project. "We believe that Russian Post should be involved in [the postal bank's] capital. As a federal state unitary enterprise, Russian Post can't participate in capital; however, once it becomes a joint-stock company, it will be able to," Tikhonov added.

(MT)