Russian Central Bank supports consolidation of VTB, Otkritie and RNCB

MOSCOW. April 29 (Interfax) - The Central Bank of Russia (CBR) has supported the proposal to consolidate VTB , Otkritie and Crimea's RNCB, Central Bank Governor Elvira Nabiullina said at a press conference on Friday following the meeting of the board of directors of the Central Bank of Russia (CBR) on the key rate.

Nabiullina acknowledged that she did not see any possibility of selling Otkritie on the market, and the CBR is not permitted to own a bank for an extended period in its role as the country's banking regulator.