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Otkritie FC Bank to Participate in the Rehabilitation of Trust Bank

26.12.2014

The Deposit Insurance Agency (DIA) has chosen Otkritie FC Bank as an investor for the financial rehabilitation of Trust Bank.

For rehabilitation purposes, the DIA will provide Trust Bank with RUB 99 billion to cover the difference between the Bank’s fair asset value and balance-sheet liabilities. The DIA will also provide Otkritie FC Bank with a RUB 28 billion loan for the purposes of maintaining liquidity in Trust Bank.  

Also, Otkritie FC Bank and the DIA will undertake an in-depth analysis of the Bank’s assets and liabilities to develop a rehabilitation action plan.

“We have extensive experience in acquiring and integrating assets, including as part of financial rehabilitation efforts,” says Otkritie FC Bank President Dmitry Romaev. “The rehabilitation will ensure maximum protection of the interests of the bank’s clients and will be for the benefit of the entire banking system. As regards Otkritie Group, participation in the project will let us expand our client base and strengthen our position in the retail segment.”