bne_newspaper_September_01_2017

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Content:
2 Top Stories
4 The Regions This Week 8 Chart
9 Central Europe
12 Southeast Europe 15 Eastern Europe 18 Eurasia
21 Lists24 Lists
September 1, 2017 www.intellinews.com
Russia’s central bank takes over troubled lender Otkritie
bne IntelliNews
Russia’s central bank on August 29 ended weeks of speculation by announcing it will take over the struggling Otkritie Financial Corporation, the second biggest private bank in the country, mark- ing the first time that a “strategically important” Russian bank has had to be rescued.
Economists tangle over risk of a Greek style collapse in Turkey
Will Conroy in Prague
Is Turkey on the road to becoming a new Greece? The question has divided economists who have delved into what to make of the explosion of credit growth sanctioned by Turkish President Recep Tayyip Erdogan and government ministers.
CBR takes over Otkritie bank, first systemically important bank to need rescue.
The Central Bank of Russia (CBR) imposed tem- porary administration on the bank on August 29 and intends to transfer the bank to a recently recreated bailout fund, the Banking Sector Con- solidation Fund.
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Turkey has developed something of an addiction
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to soft credit this year thanks to the state’s introduction of a TRY250bn ($72.3bn) credit guarantee fund (CGF). Although more than 80% of the CGF has already been used to backstop bank lending, and the word is that the fund will not be