September 20, 2017, 11:52 / Finance / News

Shishkhanov will head the board of directors of Binbank

The board of directors of Binbank decided to elect Mikail Shishkhanov as chairman of the board of directors, the credit institution told Vedomosti. In this position, with the support of the Bank of Russia, he will carry out the financial rehabilitation of Binbank and Rost Bank. Earlier, the Central Bank reported that the owner of B&N Bank asked the Bank of Russia to consider the possibility of sanitizing the bank through the Banking Sector Consolidation Fund (FBS). The regulator promised to make a decision on this issue in the coming days.

“We are now in an active negotiation stage with the Bank of Russia. Our goal is, with the support of the Central Bank of the Russian Federation through the Fund for Consolidation of the Banking Sector, to carry out an effective financial rehabilitation of Binbank and “Bank Growth,” says Shishkhanov in his commentary. “This is the best option that fully guarantees the interests of all B&N Bank clients, including each depositor.”

Shishkhanov admitted that earlier he “didn’t calculate the business forces”: “The problems of Rost Bank, which was taken for reorganization, and MDM Bank turned out to be much more serious than expected in the conditions of a falling market and the current economic situation.” He added that he fully shares the position of the Central Bank, one of the most important tasks of which is maintaining stability in the Russian financial market.

“I am deeply grateful to Mikhail Gutseriev, who agreed at my request in March of this year to head the board of directors of B&N Bank. The package of measures taken by Gutseriev in a short time was aimed at maintaining B&N Bank's leading position in the financial industry, stabilizing its work and, first of all, protecting the interests of depositors. However, the entry into force of the law on consolidation of the banking sector led to the decision of the Central Bank to use other mechanisms for bank recovery. In this regard, I decided to head the board of directors of B&N Bank. I am confident that the joint actions of the regulator and the Binbank team will allow us to do everything necessary to protect the interests of all clients,” said Shishkhanov.