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Report: Crimea-based Russian lender asks Putin for more funds

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Report: Crimea-based Russian lender asks Putin for more funds

, which operates in Russia-annexed Crimea, asked PresidentVladimir Putin for a capital boost of 21 billion Russian rubles to be providedbetween 2017 and 2019, Vedomosti reportedMay 9.

Thepublication cited a letter sent to the Russian president by the lender's boardof directors head, Mikhail Yakunin.

Thestate-owned lender wants to expand its loan portfolio and would like to issueat least 95 billion rubles in mortgages and 75 billion rubles in corporateloans, but these plans have been hampered by the current size of its capital,according to the news report.

As of May 10, US$1 wasequivalent to 66.28 Russian rubles.