New Russian bank could open by April

New Russian bank could open by April

Russian businessmen in the Czech Republic will soon be able to deposit money in "their bank" when a new Russian bank opens this year, Hospodářské noviny reports.

According to sources HN did not name, there is nothing to stand in the way of the Bank of International Cooperation opening a branch in Prague in the first half of 2008.

The bank is a subordinate of the First Czech-Russian Bank (První Česko-Ruská Banka) which had previously failed to obtain a license.The First Czech-Russian Bank currently operates in Russia, where it mainly finances Czech-Russian trade.

In this country, it intends to offer standard banking services mainly for individuals from the former Soviet Union. A decision should be made before April, according to Pavel Zúbek of the Czech National Bank, which is the government authority that grants banking licenses.

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