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Foreigners more than doubled to RUR 49.554 billion their investment into the capital of Russian banks in 2005
Foreigners more than doubled to RUR 49.554 billion their investment into the capital of Russian banks in 2005, Mikhail Sukhov, the Central Bank of Russia's (CBR) director for licensing and financial rehabilitation of credit institutions, said Tuesday according to Prime-Tass. The share of foreign capital in Russia's banking system rose to 11.15% as of January 1 from 6.19% as of January 1, 2005. The number of banks with 100% foreign ownership rose to 41 as of January 1 from 33 banks as of January 1, 2005. Eleven credit institutions were more than 50%-owned by foreign investors and a total of 136 credit institutions had foreigners among their shareholders. A total of 1,253 credit institutions were licensed and operated in Russia as of January 1, including 1,205 banks, Prime-Tass reported. (28.1451 rubles - U.S. $1)
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