January 14, 2016
The Moscow Patriarchate has dismissed rumors about its intention to buy the Moscow-based bank Ergobank.
"We know nothing about it. Most likely, it is just a hoax," head of the Patriarchate's financial department, Metropolitan Mark of Ryazan and Mikhailovsk, told Interfax-Religion on Wednesday.
A number of media reports said earlier that the Church was in talks over the purchase of a majority stake in Ergobank.
The bank, which has been experiencing problems with liquidity, stopped paying out deposits to individual clients. The bank, founded in 1994, is used by over 60 Russian Church organizations from 18 dioceses.