Bank rescue with a question mark; accusations in the Bank of Moscow case

Neue Zürcher Zeitung

The effort to forestall the bankruptcy of the troubled Bank of Moscow became the largest rescue package in the brief history of the Russian banking sector. However, question marks hang over the rescue package launched in July. The state-owned VTB bank claims that the former managers are at fault. The former Bank of Moscow CEO is defending himself against allegations of credit fraud. The conflict lays bare the weakness in the overall Russian banking sector.