8 Jun 2018 11:13

Otkritie Bank planning 68 bln rubles profit in 2020, to sell 20% of shares in 2021

ST. PETERSBURG. June 8 (Interfax) - Bank Otkritie, which is being bailed out by the Central Bank of Russia (CBR), expects zero net profit this year but for this to rise to 68 billion rubles in 2020 with 18% return on capital, the bank said in a presentation for its new strategy.

The bank is aiming to sell 20% of its shares for not less than 1.3x equity in 2021.