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Credit Bank of Moscow divests 8.6% shareholding in Promsvyazbank

PAO Credit Bank of Moscow divested its stake of around 8.6% in PAO Promsvyazbank on Dec. 15, Reuters reported Dec. 27, citing a regulatory filing.

No further information was available in the report.

Promsvyazbank was on Dec. 15 taken into temporary administration by the Russian central bank, which said it would provide funding to bolster the bank's liquidity and financial stability. It was the third privately owned bank taken over by the central bank since late August.