On recapitalisation of PJSC Bank FC Otkritie

The Bank of Russia has approved amendments to the plan of its participation in bankruptcy prevention measures for Public Joint-stock Company Bank Otkritie Financial Corporation (Reg. No.2209) (hereinafter, the Bank).

This decision is intended to provide financial support to JSC NPF LUKOIL-Garant, JSC NPF of Electric Power Industry, JSC NPF RGS ­— to a total of 31.8 billion rubles, to JSC Bank RGS in the amount of 2 billion rubles, as well as to provide recapitalisation of the Bank in the amount of 8.9 billion rubles.

The financial support being provided will enable the above organisations to compensate for losses resulting from the recognition of PJSC IC Rosgosstrakh shares at fair value and from the depreciation of assets mainly consisting in claims to Otkritie Holding and O1 Group.

The Bank of Russia will provide 42.7 billion rubles of funds to the Bank by acquiring an additional issue of the Bank’s shares. The Bank will in turn use these funds to financially support the above organisations which the Bank directly or indirectly controls.

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