THE KREMLIN IS faced with a nasty problem. State-owned Vneshtorgbank (VTB) is the second-largest bank in the country and is not a great commercial success but needs to be. State-owned Sberbank, Russia’s biggest bank, has become too successful and is squashing the rest of the sector.
These two banks sum up the problems the Central Bank of Russia (CBR) is facing as it makes the first ever concerted effort to reform Russia’s ailing financial sector.
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