The CBR adopted changes to the plan of participation of Agency on insurance of contributions (ASV) in the implementation of measures on prevention of bankruptcy of Bank “Soviet” and the timer Bank and laid on the DIA the functions of implementation in them of the interim administration, is spoken in the message of Bank of Russia. While the Central Bank said that the priority the Agency will be surveying the financial position of banks.
Both banks were under the common control of the shareholder “the New Petrochemical industry”, the Bank “Soviet” was part of a group of Tatfondbank, and the timer Bank (sister Bank Tatfondbank) was planned to consolidate the group in the near future.
In Tatfondbank the third month in a temporary administration of the Central Bank and the moratorium on satisfaction of creditors ‘ claims. “It is not surprising that “Soviet” and “timer” started to experience problems after the main Bank of the group. In Tatfondbank in the correspondent account was 15 billion of funds the Bank “Soviet”, — said Moody’s analyst Maria Milyukova.
The amount previously allocated from the DIA funding to rescue the Bank “Soviet” was 13.6 billion (with the ability to increase it by another 4 billion when the deterioration in asset quality or any off-balance sheet accounts). Saving timer of the Bank from DIA has allocated a loan in the amount of 10 billion rubles.
“At the end of the 3rd quarter of 2016 on “Soviet” had about 20% of the group’s assets of Tatfondbank, and the “timer” of about 13%. Even if the fate of these banks will be addressed separately from the Central Bank, Tatfondbank, you need not only a new turnaround, but new means for their recovery,” adds Moody’s.
“The purpose of the Bank of Russia, apparently, to share the risks due to the fact that the bankruptcy of the group members is more likely. In this case, the cost of the scheme from the chain of rehabilitated banks is irrational. However, it is clear that the banks-sanatory needs to have enough strength to continue the procedures of financial rehabilitation”, — the partner of legal F1 Farid Babayev.
Earlier on Monday, 20 February, it was reported that the DIA was transferred to the temporary administration of the Russian Orthodox Church associated with Bank “Relight”.