Bonds, Currencies, Emerging Markets, Stocks

Chinese Financial Sector Is Planning To Take Over Russian Banks

Russia China Deal

Russia’s Central Bank Deputy Chairman Mikhail Sukhov said on Monday that a number of Chinese banks are interested in purchasing Russian banks, and that they are negotiating takeover deals with some Russian financial institutions,” People’s Daily China reports.

It is true that some Chinese banks are examining the situation with a number of Russian banks

Sukhov told reporters during the Russian Economic and Financial Forum in Switzerland.

According to the official, Chinese investors haven’t shown any interest in fiscal consolidation within the Russian banks after the potential purchase and details of the negotiation have not yet been published.

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