Press Service

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

Press Service

12 Neglinnaya Street, Moscow, 107016 Russia;
www.cbr.ru

Information Notice

On measures aimed at improving financial stability of Promsvyazbank PJSC

The Bank of Russia Board of Directors decided to prolong the performance of the functions of the provisional administration to manage Promsvyazbank PJSC (hereinafter, the Bank) by FBSC AMC Ltd. by 6 months (from 16.06.2018) with the suspension of the powers of the credit institution’s executive bodies in compliance with Cl. 1 of Article 189.27 of Federal Law No. 127-FZ, dated 26 October 2002, ‘On Insolvency (Bankruptcy)’.

At present, all measures for the recapitalisation of the Bank under the plan of the Bank of Russia’s participation in bankruptcy prevention of Promsvyazbank PJSC have been fully completed. The Bank observes all capital adequacy requirements.

In the near term, permanent management bodies are expected to be established in Promsvyazbank PJSC.

15 June 2018

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