19 Mar 2018 16:34

Central Bank recapitalizes B&N Bank by 56.8 bln rubles

MOSCOW. March 19 (Interfax) - The Central Bank of Russia (CBR) has recapitalized B&N Bank by 56.8 billion rubles, with a report on the results of an additional share issue being registered on March 19.

It is envisaged that after the bank has been recapitalized and claims against Rost Bank have been settled, B&N Bank will be observing capital adequacy ratios on an individual basis with account taken of required capital buffers.

B&N Bank had negative equity of 36.9 billion rubles as of February 1. Rost Bank, part of the same group, had negative 421.3 billion rubles.

The Central Bank is planning to merge B&N Bank with Bank Otkritie , which is also being bailed out, before April 1, 2019.