Translated material
The Central Bank will allocate 67 billion rubles for reorganization of the Bank of the Russian Orthodox Church
The Bank of Russia officially announced the reorganization of the Peresvet bank, one of the shareholders of which is the Russian Orthodox Church. Thisis stated in the message of the Central Bank.
As part of the procedure, the Deposit Insurance Agency (DIA) will allocate 66.7 billion rubles to the bank. The reorganization will be carried out at the expense of shareholders and creditors-according to the Bail-in mechanism.
“More than 70 bank creditors on a voluntary basis expressed a desire to participate in financial recovery by converting funds placed in the bank in the amount of 69.7 billion rubles to 15-year-old subordinated bonds,” the Central Bank said.
As noted in the Bank of Russia, the All -Russian Bank for the Development of Regions (VBRR), which is controlled by Rosneft, will be the investor. Representatives of the DIA and the Central Bank appreciated the “hole” in the capital of Peresvet at 103.6 billion rubles.
On April 19, the Board of Directors RusHydro advised to participate in the reorganization of the Peresvet bank. Thus, the company "RAO East of East", RBEF JSC and ESC RusHydro JSC will have to purchase fifteen -year -old bonds of Peresvet with a nominal value of 329 rubles. Each.
It was emphasized that bonds will be repaid by converting into ordinary shares of the bank a similar face value. The total cost of shares that are going to buy “daughters” “RusHydro” is not disclosed. According to TASS, RusHydro kept 5.5 billion rubles on the accounts of the Peresvet bank.
Earlier, Peresvet decided to take part in the recovery of Peresvet. It was reported that the company will acquire a bank bonds worth up to 16.8 billion rubles.
On February 20, the Central Bank ceased the activities of Peresvet and entrusted the function of the interim administration for six months on the DIA. The negative capital of the bank by January 1, 2016 amounted to 45.8 billion rubles. It was reported that the accounts in Peresvet were at Inter RAO, RusHydro and the Moscow Patriarchate. The Russian Orthodox Church owns 27.5% of the bank shares.