Press Service

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

Press Service

12 Neglinnaya Street, Moscow, 107016 Russia;

Information Notice

On measures aimed at improving financial stability of Promsvyazbank PJSC

The Bank of Russia approved amendments to the plan of its participation in bankruptcy prevention measures for Promsvyazbank Public Joint-Stock Company (Reg. No. 3251), further referred to as the Bank, which provide for its recapitalisation from the Banking Sector Consolidation Fund. Pursuant to the Federal Law ‘On Banks and Banking Activities’ and the Federal Law ‘On Insolvency (Bankruptcy)’, this is the basis for termination (exchange or conversion) of the Bank’s liabilities under subordinated loans (deposits, bond-secured loans) and termination of financial obligations to the Bank’s executives and controlling entities.

22 December 2017

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