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The First Victim Of The Ruble Crisis Offers A Bruce Willis Credit Card

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Trust Bank, a small Russian lender, was bailed out by the country’s central bank on Monday. It is the first financial institution to be rescued since the collapse of the ruble, and the only to offer a Bruce Willis MasterCard.

The front page of Trust Bank's website has three Bruce Willises.

Via http://trust.ru

Via Reuters:

Russian mid-sized lender Trust Bank is to receive up to 30 billion rubles ($ 530 million) from the central bank to stop it going bankrupt in the first bailout of its kind during the current rouble crisis.

The central bank said its Deposit Insurance Agency, responsible for managing crisis-hit lenders, would take over interim supervision of Trust Bank as of Monday.

The Russian financial sector is being hit on multiple fronts. Financial sanctions, imposed in the wake of the country's annexation of Crimea, limit the ability of the banks to borrow in international markets. Meanwhile, the value of the ruble has halved in recent months, and the country's economy is sliding into a recession.

Any of these factors alone would stress a banking system, but in combination, they could be devastating. “Today, I can say that we have entered or are entering a real, full-fledged economic crisis,” said former Finance Minister Alexei Kudrin in a press conference on Monday.

The government is already preparing to inject funds into the banking system, and on Friday the lower house of parliament rushed through a draft law that would direct up to 1 trillion rubles ($ 16.5 billion) into the banking sector.

So many Bruce Willis pictures.


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BuzzFeed – Business

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