Press Service

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

Press Service

12 Neglinnaya Street, Moscow, 107016 Russia;

Results of the Bank of Russia-conducted Asian-Pacific Bank stock trading

The public auction to sell Bank of Russia-held shares of Asian-Pacific Bank (PJSC) (Reg. No. 1810) (further referred to as the Bank) was recognised invalid as none of the two Bank of Russia-approved auction participants took part in the trading.

The Bank of Russia organised an electronic public auction in accordance with Article 189.57-1 of Federal Law No. 127-FZ, dated 26 October 2002, ‘On Insolvency (Bankruptcy)’ on the Sberbank-AST trading platform.

The Bank of Russia has remained the holder of more than 99% of the Bank’s shares. The Bank will continue its operations under the management of the provisional administration. The functions of the latter are performed by FBSC AMC Ltd.

Given that the Bank of Russia has retained its participation in the Bank’s authorised capital, it intends to establish permanent management bodies at the Bank in the near future, which will determine the Bank’s development strategy.

The Bank is supposed to be sold in 2020 after it discloses information about its 2019 performance to the public, including potential investors.

14 March 2019

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