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Otkritie FC Bank’s State Aid Bid Approved by the DIA

02.04.2015

The Board of Directors of the Deposit Insurance Agency (DIA) has approved the state aid bid of Otkritie FC Bank. The Bank expects to raise a total of RUB 55.6 billion (including the limit allocated by the DIA to Khanti-Mansyisk Otkritie Bank) in additional capital through a federal bond issue as a result of the aid programme.

“We are comfortable about our capital,” Sergey Kovtun, CFO at Otkritie FC, stressed, “The state aid proceeds will make an extra capital reserve. This way we will have more business development opportunities and thus will be at an advantage in case of any changes, whether negative or positive, in the economy.