The growth of the Bank “URALSIB” on the Moscow stock exchange has reached 100%

MOSCOW, November 6. Shares of the Bank “URALSIB” during the auctions on the Moscow exchange has accelerated to 100%, priostanovivshih at around 0.17 per ruble per share. Earlier on Friday, their growth was 30-40%.

In this case, before the shares of URALSIB was the undisputed leader of trading on the Moscow stock exchange, rising by 152,23% to RUB 0,085 per share. With the close of trading on 3 November, the paper company has already risen more than five times with a mark of 3.37 kopecks per share.

The growth of the company’s shares comes amid news that the head of the group “Neftegazindustriya” Vladimir Kogan entered into an agreement with the major shareholder “UralSiba” Nikolay Tsvetkov on the acquisition of 82% shares of the Bank. The new owner will provide to the Bank an amount sufficient to ensure smooth operation and compliance with mandatory standards, in the form of loans amounting to 14 billion rubles for a period of 6 years and $ 67 billion rubles for a period of 10 years. This plan was submitted to the Agency for Deposit insurance (DIA) and approved by the Board of Directors of the Bank of Russia.

The Bank “URALSIB” occupies 27-e a place in Russia’s banking system in terms of net assets. By the end of 2014, the Bank received an IFRS loss in the amount of 9.5 billion rubles, which is 6 times higher than the 2013 loss in the first half of 2015, “URALSIB” has received a loss in the amount 10,23 billion rubles.
The main reasons for these indicators are the creation of reserves for problem loans and the increase in interest expense. In the summer of 2015, shareholders of the Bank held its capital increase of 17.6 billion rubles.