Bank of Russia completes measures to improve JSC Asian-Pacific Bank’s financial stability

The Bank of Russia Board of Directors has made the decision to complete the implementation of the measures taken to prevent the bankruptcy of JSC Asian-Pacific Bank (Registration No. 1810) (hereinafter, the Bank). The measures stipulated by the Plan for the Bank of Russia’s Participation in Bank Bankruptcy Prevention Measures (hereinafter, the anti-bankruptcy plan) have been accomplished. The period for the implementation of the anti-bankruptcy plan has ended. Accordingly, the effective period of the decision to guarantee the continuity of the Bank’s operations terminates.

The anti-bankruptcy measures have helped ensure the continuity of the Bank’s operation to provide services to its clients, create loan loss provisions in the amount necessary to cover current and potential risks, and restore the Bank’s financial stability. Today, the Bank is compliant with all the requirements established by the Bank of Russia for financial stability and solvency. Therefore, the Bank of Russia will start to apply common supervision in relation to the Bank.

By 1 November 2021, the title to the Bank’s shares will be transferred to the new owner LLP Pioneer Capital Invest, the winner in the auction held on 17 September 2021 to sell 100% of the Bank’s shares previously owned by the Bank of Russia.

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30.09.2021 11.01.00