On measures aimed at improving financial stability of B&N Bank

The Bank of Russia approved the amendments to the plan of its participation in bankruptcy prevention measures for Public Joint Stock Company B&N Bank (Reg. No. 323), further referred to as the Bank, which provide for LLC Fund of Banking Sector Consolidation Asset Management Company (further referred to as FBSC AMC Ltd.) to perform the functions of the provisional administration to manage the Bank.

The mandate of the provisional administration of FBSC AMC Ltd., inclusive of the recent changes in the bankruptcy prevention legislation introduced by Federal Law No. 328-FZ, dated 25 November 2017, will enable the implementation of corporate procedures necessary to change the amount of the authorised capital and form the Bank’s management bodies.

According to Bank of Russia Order No. ОD-3526, dated 15 December 2017, FBSC AMC Ltd. was entrusted with the functions of the provisional administration to manage the Bank, effective 15 December 2017.

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15.12.2017 00.00.00