Mikhail Polunin became President of the Bank “Peresvet”

MOSCOW, August 11. /TASS/. The General meeting of shareholders of the Bank “Peresvet”

ahead of schedule stopped powers of the President of the Bank Alexander Shvets. In his place was elected Mikhail Polunin.

This is stated in the message Bank server disclosure.

The report notes that Polunin begin their duties on August 11, the term of office of five years.

Polunin also was elected a member of the Board of Directors of the Bank.

Polunin informed the head of the temporary administration of ASV in “Peresvet”.

Prior to that, he served as Vice-President of the Russian regional development Bank (RRDB).

The situation around the “Peresvet”

In October 2016, the Central Bank introduced the Bank “Peresvet” temporary administration and the moratorium on satisfaction of creditors ‘ claims, which in January of 2017 was extended for a further three months.

As of 1 January 2017, the “hole” in the Bank “Peresvet” was 45,82 billion. In the course of further checks revealed that the Bank’s capital was formed “hole” is almost 104 billion.

Within the financial recovery procedure “Peresvet” it was decided to hold bail-in, i.e. the conversion of debt of the Bank to creditors in the capital.

20 Feb 2017 functions of the turnaround of the Bank was vested in the Agency on insurance of contributions. 19 April 2017, the regulator finally approved the reorganization of the credit institution, agreeing to allocate to it a 67 billion. Corporate creditors also will be allocated for closing “holes” in the Bank’s capital of 70 billion rubles. Later investor in rehabilitation “Peresvet” Bank of Russia chose controlled Rosneft, RRDB, which got 99,999989% stake in “overexposure” according to the results of the additional issue carried out by the credit organisation.