The total assets of Russia's banks contracted by 24 billion rubles ($380 million) in January as a crumbling ruble, high interest rates and an economic slowdown battered the country's banking industry, according to Central Bank data cited by Russian business newspaper Vedomosti on Feb. 14.
The Moscow Times: Russian banks’ assets fall $380 million in January
People prepare a sled in the form of the Russian ruble during the Winter Sledge festival in St. Petersburg, on Feb. 1, 2015.
