Press Service

The Central Bank of the Russian Federation (Bank of Russia)

Press Service

12 Neglinnaya Street, Moscow, 107016 Russia;

On measures aimed at improving financial stability of PJSC B&N BANK

The Bank of Russia approved amendments to the plan of its participation in bankruptcy prevention measures for Public Joint Stock Company B&N Bank (Reg. No. 323), hereinafter referred to as the Bank. These measures provide for the Bank of Russia to allocate 56.9 billion rubles for recapitalisation purposes; the funds will be used to purchase the Bank’s follow-on offering.

Following the Bank of Russia’s purchase of the Bank’s follow-on offering and once the Bank’s credit claims to JSC Rost Bank have been settled, the Bank will become compliant with its individual required reserve ratios and capital adequacy buffers.

The Bank is scheduled to merge with PJSC Bank Otkritie Financial Corporation (Reg. No. 2209) before 1 April 2019.

06 March 2018

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