On financial rehabilitation measures applied to OJSC Baltiyskiy Bank

On 29 August 2014, the Bank of Russia Board of Directors took a decision to approve amendments to the Plan for participation of the state corporation Deposit Insurance Agency (hereinafter, the Agency) in bankruptcy prevention of OJSC Baltiyskiy Bank.

Within the scope of implementation of the Participation plan the Agency held a tender to select an investor who met the requirements for participation in bank bankruptcy prevention measures and proposed the most favourable conditions for financing measures for rehabilitation of OJSC Baltiyskiy Bank.

Resulting the tender OJSC ALFA BANK has been selected. Financial possibilities of OJSC ALFA BANK enable the implementation of measures for financial rehabilitation of OJSC Baltiyskiy Bank.

Pursuant to the approved amendments to the Participation plan, the Agency is to render OJSC Baltiyskiy Bank financial assistance in the amount of 57.4 billion rubles out of Bank of Russia loan.

The Participation plan provides for reorganisation of OJSC Baltiyskiy Bank through merger with OJSC ALFA BANK.

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29.08.2014 00.00.00