On measures aimed at improving financial stability of Bank Otkritie Financial Corporation
The Bank of Russia has decided to implement a number of measures aimed at improving the financial stability of Moscow-based Public Joint-stock Company ‘Bank Otkritie Financial Corporation’, further referred to as the Bank.
As part of these measures, the Bank of Russia will act as a key investor, with the funding coming from the Banking Sector Consolidation Fund.
The measures aimed at improving the Bank’s financial stability are being implemented in cooperation with the Bank’s current owners and executives, which is set to secure the continuity of its operations in the banking services sector, as well as, moving forward, make all necessary arrangements towards the Bank’s operational development in the future.
The Bank continues to operate in a normal mode, meets its obligations and conducts new transactions. The Bank of Russia will provide financial support to the Bank and guarantee the continuity of its operations.
According to its Order No. OD-2469, dated 29 August 2017, and pursuant to Articles 189.25, 189.26, 189.31 of Federal Law No.
No moratorium on payments under creditors’ claims is introduced. No bail-in option will be applied.
Financial institutions and service providers within the Bank’s group including Public Joint-stock Company Rosgosstrakh Insurance Company, Public Joint-stock Company National Bank TRUST, Public Joint-stock Company Rosgosstrakh Bank, JSC NPF LUKOIL-Garant, Joint-stock Company NPF of Electric Power Industry, Joint-stock Company NPF RGS, JSC Otkritie Broker and the companies Tochka and Rocketbank will continue their normal operation and provide services to their clients.
The Bank was established on 15 December 1992; it is a systemically important credit institution ranked 8th by assets. The Bank includes 22 branches and over 400 structural divisions.
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