"The funds will be invested in the implementation of a program to provide it [Globex] with financial assistance with a view to stabilizing the bank's operations while allowing it to honor its commitments to clients and counterparties in full," the statement read.
The decision to buy up to 100% in Globex is expected to be approved by VEB's supervisory board.
Globex, a midsized bank with a significant client base, blocked its customers from withdrawing cash on Tuesday from deposit accounts for five days amid a global liquidity crisis.
Last Friday, the government pledged to give 75 billion rubles ($2.85 billion) to VEB to buy up "problem banks."
Globex is among Russia's 50 largest banks. As of October 14 the balance on its current and fixed-term deposit accounts was more than 20 billion rubles, a 15% drop on September.
Analysts have said problems with liquidity experienced by the Russian banking sector could trigger a wave of consolidations, and reduce the number of lending institutions in Russia by 30%.
