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Putin Pledges to Boost Russian Banks' Lending Power

Russian President Vladimir Putin on Friday pledged to support major domestic banks by giving them more capacity to advance loans. “We will capitalize the systemically-important Russian banking organizations more,” Putin said at the St. Petersburg annual investment forum. Banks will be able to convert subordinated loans to shares to allow them to expand opportunities in giving loans and to reduce the price of loans, he said. Russia's major state banks have said...

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