Rosneft's bank takes over Orthodox Church bank Peresvet

MOSCOW: Russian Regional Development Bank (RRDB), owned by Russia's largest oil producer Rosneft , has taken over the troubled Orthodox Church bank Peresvet, the bank's documents showed on Friday.

Peresvet said on a regulatory filing that RRDB has become the owner of almost 100 percent of the bank after Peresvet held an additional share issue, part of a process to prevent the bank from going into bankruptcy.

In October last year, the central bank introduced a "temporary administration" at Peresvet, half of which belongs to Russia's powerful Orthodox Church, as the lender faced issues with its capital.