Bank “Peresvet” will reduce authorized capital to 1 ruble

Bank “Peresvet” will reduce authorized capital to 1 ruble

Moscow. April 21. Temporary administration on Bank management Peresvet decided in the framework of measures on prevention of bankruptcy to reduce the Charter capital of a credit institution to 1 ruble, the Bank said. The authorized capital, which now stands at 1,911 billion rubles, it is planned to reduce by reducing the par value of the shares.

Economics19 April 2017ЦБ decided to sanitize the Bank “Peresvet” and will allocate this credit in 66.7 billion. Read more

“Expocentre” now owns 42.3% of shares of “Peresvet”. The Russian Orthodox Church directly owns 27.5 per cent of the Bank, its controlled OOO “Promotion” of 9.9%. The company’s former head of Bank Alexander Shvets – “Consent” – owns 9.3% of shares.

CBR 19 APR decided to sanitize the Bank “Peresvet” with the use of the mechanism of bail-in (the conversion of Bank liabilities in its capital). The Bank of Russia will allocate funding in the amount of 66.7 billion rubles. ; Selected all-Russian regional development Bank (RRDB under control “Rosneft”).

More than 70 creditors “Peresvet” on a voluntary basis and expressed a willingness to convert is placed in funds in the amount of 69.7 billion roubles in 15-year subordinated bonds. Held 9 meetings of holders of bonds, on which decisions on the restructuring 6 of 9 issues of bonds with a simultaneous change of parameters – increasing the term to 20 years, reducing the interest rate to 0.51%.

The “hole” in the Bank’s equity in the assessment of its financial situation the Agency for Deposit insurance and the Central Bank is estimated at 103,6 billion.

“Peresvet” from 21 October 2016, under action of the moratorium on satisfaction of creditors ‘ claims, the validity of the second moratorium will expire April 23, 2017. In October last year for six months, in the “Peresvet” was also introduced temporary administration on Bank management, February 20, its functions assigned to Agency on insurance of contributions (ASV).

Bank “Peresvet” in the third quarter of 2016, was ranked the 42nd place in terms of assets in ranking “Interfax-100” prepared “Interfax-TSEA”.