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MANAMA, Bahrain () -- Mezhkombank, one of Moscow's larger commercial banks, has made an entry into the Persian Gulf by opening an office in Bahrain.
Mezhkombank is the first Russian bank to operate in the island state, which is a major financial center for the oil-rich gulf. There are some 48 offshore banking units operating in Bahrain, with assets estimated at $65 billion at end September.
The bank's deputy chairman, Alexander Grigoriyev, said Saturday that operations would begin in March.
Mezhkombank to Gulf
24 January 1995
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