Russia to boost Agriculture Bank capital 40 bln rubles by end 2012 - paper
MOSCOW. Nov 13 (Interfax) - Russia will boost the capital of Russian Agriculture Bank (RSHB, Rosselkhozbank) by 40 billion rubles by the end of this year, the Vedomosti newspaper said, quoting unnamed sources.
The paper's sources said the 2012 budget was being amended accordingly and that the money had been found thanks to a budget surplus.
Russian President Vladimir Putin, at a budget meeting in October, asked the government to look into boosting the bank's capital. A list of instructions, seen by Interfax, sets a December 1 deadline, although it does not give any amounts.
RSHB's capital was boosted by 40 billion rubles to 148 billion rubles at the end of last year, also by amending the budget.
One of Vedomosti's sources said the bank's balance sheet needed to be cleaned up and that the bank wanted to offload problem assets worth more than 40 billion rubles. A person from the government administration told the paper that it had not yet been decided ho would buy those assets.
