The head of the Central Bank of the Russian Federation has called the situation with the Bank “Opening” “a special case”


/TASS, September 7. The head of the Bank of Russia Elvira Nabiullina said the situation with the Bank “Opening” a special case. She stated this in an interview with Bloomberg TV.

“Bank “Opening” is just a special case”, she said.

Nabiullina also noted that a preliminary assessment of the “hole” in the “Discovery” are 250-400 billion rubles, but can be adjusted.

“Bank “Opening” aggressive ROS, buying different kinds of assets and overestimated its ability to deal with distressed assets, somewhere misjudged the quality of these assets,” she said.

According to the head of the Central Bank of the Russian Federation, the issue of holders of subordinated bonds will be decided at the assessment of the Bank.

The possession of the “Discovery” of the Central Bank – a temporary situation, the Bank will be sold after rehabilitation. “Our task is to capitalize the Bank, to develop a clear, transparent business model, make it attractive to investors and bring it to market,” she said.

Nabiullina stressed that the overall situation in the banking sector is stable, and the “problem “Discovery” is not related to the General problems of the banking sector and linked to the business strategy of the Bank.”

The Bank of Russia on August 29 took the decision to implement measures aimed at improving the financial stability of the Bank “FC Opening”. The Central Bank will enter the capital of the Bank as the main investor and will provide financial support at the expense of established in the summer of 2017 Fund the consolidation of the banking sector.

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