(MENAFN) Depositors in a Russian bank that collapsed due to the economic crisis will receive a record insurance payout of USD800 million, the Peninsula Qatar reported.
The total paid out to account holders at Transportny Bank 'will be close to USD800 million', said Andrei Melnikov, the deputy director of the Deposit Insurance Agency state corporation.
Transportny bank is a medium-sized bank, only the 103rd largest in the country, but its failure is the costliest ever for the state corporation that insures deposits.
Russia has sought to recapitalise the banking system rocked by December's plunge in the value of the ruble due to falling oil prices and Western sanctions over Ukraine.
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