He declared readiness to transfer its stake in the Bank for the ruble

MOSCOW, September 21. /TASS/. Principal owner of Binbank Mikhail Shishkhanov said he was ready to transfer its interest in the Bank “for the ruble.”

“I’m ready for the ruble to transfer his share. We are currently talking to the supervision by the Central Bank that 75% [of the shares of the Bank would go to the state represented by the Central Bank and, at best, 25% will go to me and have minority partners. And it is written in the law, the Central Bank may not have less than 75% – said Shishkhanov in an interview with radio station “Kommersant FM”. – I am willing to do all that is necessary, as required by the Central Bank, in order for the organization lived on and developed.”

According to him, last year and a half he sold his assets to support the Bank’s capital, but in December of last year, “has exhausted its own resources” and in the beginning of 2017, turned to his partner (Mikhail Myasnikovich, jointly own more than 96% of the shares of the Bank – approx. TASS), that he “found a way to get the economy straightened out of the Bank”.

“Economics of the Bank has decreased a great deal due to the fact that the readjustment that had to happen and the resolution mechanism, which was primarily, it was designed for a growing market or a stable market. It was not designed for a falling market,” – said Shishkhanov.

He said that in the capital of the Bank has no “holes”. “Holes” in the capital we have, there is a feeling nedorazvedany loans in connection with the situation on the market – many borrowers are in serious condition, according to our estimates, is from 100 to 150 billion rubles. But the Central Bank is likely to be more conservative in the estimates,” – said Shishkhanov.

He stressed that he asked the Bank as soon as possible to introduce a temporary administration. “I did it, to prevent any excesses in the Bank,” – said Shishkhanov.