Financial Sector Overview
Bank of Russia
FINANCIAL SECTOR OVERVIEW
The Central Bank of the Russian Federation
BANKING SECTOR: NEW RESOLUTION MECHANISM
Under new mechanism both costs of resolution and time required have been reduced significantly
24
24
RUB 2.6 tn have been
provided to three banking
groups (Otkritie, B&N,
Promsvyazbank)
RUB 758.3 bn
for additional capitalization
RUB 1.86 tn
List of banks under financial rehabilitation procedure
1
Bank FC Otkritie (merged with B&N Bank)
2
Promsvyazbank
4
National Bank TRUST (with ROST Bank and AVB Bank)
Asian-Pacific Bank (APB)
5
for liquidity (deposits) *
Moscow Industrial Bank (MIB)
6
Volga-Oka Bank (VOCBANK)
+
Additional
RUB 379.1 bn
RUB 156.1 bn for the
establishment of BNA**
RUB 42.7 bn for additional
capitalization of Otkritie Bank
RUB 9.0 bn for additional c
apitalization of APB
RUB 128.7 bn for additional
capitalization for MIB and RUB 39.9 bn
for liquidity (deposits)
RUB 2.7 bn for additional capitalization
for VOCBANK
* Have been fully repaid by the end of 2018
**BNA - Bank of non-core assets based on NB TRUST, ROST BANK and Bank AVB
On July 2, 2019, the Bank of Russia's Board of Directors has decided to
complete the implementation of bankruptcy prevention measures for
Bank FC Otkritie. Currently, the Bank complies with all Bank of Russia's
statutory requirements for financial resilience and creditworthiness.
Promsvyazbank complies with all capital adequacy and liquidity
requirements and operates its business in its usual way. The bank fully
repaid CBR deposits placed in the bank during resolution process.
As a result of the financial resolution measures and implementation
of a new business model in the Asian-Pacific Bank, its financial standing
has been stabilised, new capital has been formed, outflow of its clients'
funds has been stopped, its solvency has been restored and the Bank's
profitability has become stable. The Bank is supposed to be sold in 2020
after it discloses information about its 2019 performance to the public,
including potential investors.
On 12 July 2019, the Bank of Russia approved amendments to the plan of
its participation in bankruptcy prevention measures for the Moscow
Industrial bank (MIB). These amendments provide for the Bank of Russia
to allocate 128.7 billion rubles for recapitalisation purposes.View entire presentation