Bank of Russia amends anti-bankruptcy plans for PJSC Moscow Industrial bank and NB TRUST

The Bank of Russia approved amendments to the Plans for the Bank of Russia’s Participation in Bankruptcy Prevention Measures for PJSC Moscow Industrial bank (Reg. No. 912) and NB TRUST (Reg. No. 3279).

In accordance with these amendments, PJSC Moscow Industrial bank’s troubled and non-core assets are to be transferred to the group of NB TRUST. These assets are planned to be transferred by 1 August 2021. To fund this transaction, the Bank of Russia will provide a deposit to NB TRUST amounting to no more than 24.3 billion rubles. PJSC Moscow Industrial bank will use the earnings from the transaction to repay its deposit totalling 22.4 billion rubles earlier provided by the Bank of Russia. The deposit will be refunded in July 2021 as scheduled by the relevant agreement.

The bank will continue to operate as normal and fulfil its obligations to clients. The Bank of Russia’s earlier decision to guarantee the continuity of the bank’s operations remains effective.

Pursuant to the said amendments, 100% of PJSC Moscow Industrial bank’s shares are expected to be transferred to the Federal Agency for State Property Management to be subsequently transferred to Promsvyazbank PJSC.

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29.04.2021 15.40.00