MOSCOW (Dow Jones)--Russia and Italy might set up a joint investment bank by the end of the year to work on large projects throughout Europe, India and China, the news agency RIA Novosti reported Wednesday citing a Kremlin aide.
The agency cited Sergei Yastrzhembsky, an aide to President Vladimir Putin, as saying the investment bank will include Italy's Intesa Sanpaolo SpA (ISNPY) and Gazprombank, the banking arm of Russian gas monopoly OAO Gazprom (GAZP.RS), as well as other major Russian banks.