On measures aimed at improving financial stability of Asian-Pacific Bank PJSC
The Bank of Russia approved the plan of its participation in bankruptcy prevention measures for Public Joint-stock Company Asian-Pacific Bank (Reg. No. 1810) (hereinafter referred to as the ‘Bank’).
Measures aimed at ensuring the Bank’s continuous activity in the banking services market and improving its financial stability provide for the participation of the Bank of Russia as an investor using the facilities of the Fund of Banking Sector Consolidation. The Bank of Russia will provide the Bank with liquidity support funds.
The Bank of Russia Board of Directors took a decision to guarantee the continuity of activity of Asian-Pacific Bank PJSC during the duration of the plan of the Bank of Russia’s participation in bankruptcy prevention measures for the Bank.
In order to perform all necessary measures to support and ensure further development of the Bank’s activity, by order of the Bank of Russia No. OD-1076, dated 25 April 2018, the functions of the provisional administration to manage Asian-Pacific Bank PJSC are assigned to LLC Fund of Banking Sector Consolidation Asset Management Company effective 26 April 2018.
The Bank will continue to operate in the ordinary course, meeting its obligations and conducting further transactions. No moratorium on payments under creditors’ claims is introduced.
The Bank ranks 60th by assets among Russian banks (120 billion rubles as of 1 April 2018). Asian-Pacific Bank PJSC is one of the largest and socially important regional banks of Siberia and the Far East.
The reference to the Press Service is mandatory if you intend to use this material.