Russia Pushes Its Largest Private Bank to Redomicile at Home
- Finance Ministry seeks order on foreign holders in Alfa Bank
- Government named bank among ‘economically significant’ firms
Russia began moves to compel the country’s largest private bank to redomicile by seeking to suspend the ownership rights of its foreign-registered shareholders.
The Finance Ministry on Wednesday announced it had filed an application to the Arbitration Court of Moscow Region to suspend the corporate rights of Cyprus-based ABH Financial Limited in Alfa-Bank AO, owned by billionaire Mikhail Fridman and his partners.