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Report: Asian-Pacific Bank sale possible by year-end, central bank official says

PJSC Asian-Pacific Bank could be sold through a competitive process by the end of 2018, news agency RBK reported May 31, citing Vasily Pozdyshev, deputy chairman of the Russian central bank.

The lender was bailed out by the central bank in April and is being managed by the central bank's banking sector consolidation fund. The lender's co-owner, Andrei Vdovin, is wanted by Russian law enforcement authorities for embezzling $13 million, the report noted.