The growth of the Bank will be attached to the Bank until the end of 2025. In the framework of the plan for rehabilitation Shishkhanov agreed to buy the Bank all of its owned shares in the growth of the Bank, the allocation of additional funds from the DIA would be required.
MOSCOW, 28 Dec. Shareholder Mikail Shishkhanov will be drawn to rehabilitation of the growth of the Bank, with additional funds for refurbishment would be required, according to the Agency for Deposit insurance (DIA).
“The DIA reports that the Bank of Russia approved amendments of the plan the participation of the DIA in the implementation of measures on prevention of bankruptcy of joint-stock company “the Growing Bank”, involving the implementation of measures on prevention of bankruptcy of the Bank as a new investor shishhanov Mikail Osmanovich”, — stated in the message.
Change investor due to the peculiarities of the formation of the consolidated financial statements of the Bank. “With this additional funding, the DIA reorganization is not required,” the Agency said.
The growth of the Bank
Under the plan Shishkhanov agreed to buy the Bank all of its owned shares in the growth of the Bank, said the Deposit insurance Agency. Shishkhanov is the ultimate beneficiary of the Bank with a share of 59,4065% of the shares.
The DIA terminates the execution of the functions of the interim administration in the Growth of the Bank. The Bank of Russia reports that it has satisfied the corresponding petition of the DIA.
The growth of the Bank will be attached to the Bank until the end of 2025. Before joining the Growth of the Bank will continue to operate in normal mode, providing a full range of banking services and providing uninterrupted customer service.
“ACB will exercise full control over the process of financial restructuring on the basis of a General agreement concluded with shishkhanova M. O., PJSC “Bank” and JSC “Growth Bank” and providing the regular provision of comprehensive information about the financial condition of the growth of the Bank”, — stated in a press release.
The other banks in the group
The DIA has also adjusted the procedure for the reorganization of other banks of the group “Growth” — “Cedar”, “Burbank-Smolensk” (SKA-Bank), “Burbank-Surgut” (formerly EcoBank and Burbank-Tver (formerly the Legion).
The new version of their accession to the Bank until July 1, 2016.
“Given the high technology and the development of business processes PJSC “Bank”, this measure will contribute to the optimization activities and customer service United Bank”, — said the Agency.
Background
At the end of November 2014 the Bank of Russia took a decision to introduce temporary administration in the banks of group “Growth”, which included the Growth of the Bank, the Bank “Cedar”, EcoBank, SKA-Bank and Tveruniversalbank. In all these banks the Central Bank has previously established the inaccuracy of the reporting.
The “hole” in the total capital of these banks, according to the Chairman of the Central Bank Mikhail Sukhov, exceeded 10 billion rubles.
In December last year, the Bank closed the acquisition of five banks of the group “Growth”. The deal was done with the support of the state represented by the Central Bank and the Deposit insurance Agency under the procedures of financial restructuring of the growth of the Bank, the Bank “Cedar”, EcoBank, SKA-Bank and Tveruniversalbank.
The DIA for the credit of the Central Bank was to allocate the Growth to the Bank a loan of 18.4 billion rubles for a period of 10 years. Also the Agency for the credit of the Central Bank should provide a loan to the Bank in the amount of 17.5 billion rubles for a period of 6 years on the maintenance of liquidity.
According to the Central Bank, the Bank of 1 December is in the top-30 largest banks of the Russian Federation.
