Reorganization of Uralsib Bank is complete - Russian Central Bank

MOSCOW. Feb 16 (Interfax) - The Bank of Russia has decided to complete the financial rehabilitation of Uralsib Bank ahead of schedule, the CBR said in a statement.

All measures provided for in the plan for our participation in the measures being taken to prevent the bank's bankruptcy have been completed, the Central Bank said.

The bank is in compliance with the mandatory standards established by the Central Bank and is conducting its activities under the standard supervision regime, the regulator said.

Uralsib has been undergoing rehabilitation since the fall of 2015. Vladimir Kogan was chosen as an investor as part of the bank's financial recovery, acquiring 82% of the bank's shares from its founder Nikolai Tsvetkov "for a symbolic amount." After Kogan died, his widow Lyudmila Kogan was approved as an investor in Uralsib, receiving 81.8% of the bank's shares by inheritance. Nikolai Tsvetkov owned 11.35% of the bank.