Sanitize the Bank “Promsvyazbank”

The Bank of Russia approved the plan of participation of the Central Bank in the implementation of measures on prevention of bankruptcy of PJSC “Promsvyazbank” (reg. No. 3251).

“In the framework of measures aimed at improving the Bank’s financial stability and ensure continuity of its operations in the market of banking services, participation of the Bank of Russia as an investor using the Fund’s cash consolidation of the banking sector”, – stated in the message controller.

The Bank of Russia provided the Bank providing funds to maintain liquidity, which will increase its financial sustainability and will contribute to the further development of the credit institution.

To implement all necessary activities to support and further development of activities of temporary administration on management of PJSC “Promsvyazbank” entrusted with 15.12.2017 on LLC “Management company of the Fund the consolidation of the banking sector”.

“The Bank continues to work normally, fulfilling their commitments and making new deals. The moratorium on satisfaction of requirements of creditors is entered. The Bank of Russia will provide financial support to the Bank, guaranteeing the continuity of its activities, given the systemic importance of the Bank”, – said the Central Bank.

The Bank ranks 9th by assets among Russian banks (the Bank’s assets amounted to 1.3 trillion rubles for 01.12.2017) and is included in the list of systemically important credit institutions. The Bank has established correspondent relations with credit institutions 297, 2.73 million clients — legal entities, SMEs and individuals (2.5 million customers), the Bank’s offices are located in all Federal districts.

AVTOVAZBANK (reg. No. 23), reorganized the Bank, continues to function normally and to serve customers.

Sanitize the Bank “Promsvyazbank” 15.12.2017

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