Central Bank deputy head on bank transparency

The release of information about commercial bank incomes and losses by the Central Bank will help banks attract more corporate clients, Central Bank Deputy Chairman Andrey Kozlov declared at a briefing today. Today the Russian Central Bank starts publishing information about turnover balance sheets, incomes and losses of commercial banks that have agreed to reveal their financial figures.

To make this financial information open to the public, banks may sign a special letter authorizing the Central Bank to release this information. Some 198 banks, including 15 from the list of the top 30 Russian banks, have signed this document already.

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