Bank of Russia to sell shares in Asian-Pacific Bank

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AK&M 04 May 2021 23:41

The Bank of Russia has announced the launch of acceptance of notices from those interested in buying Joint stock company Asian-Pacific Bank's shares, according to a notice published on the regulator's website.

Parties interested in acquiring the Bank's shares are invited to send their notices of intent to the Bank of Russia from June 28, 2021 to July 2, 2021 in electronic form through information exchange participants' accounts or by courier. After considering these notices, the Bank of Russia will make a decision on further procedures for selling the Bank's shares, which will be then announced.

The Bank of Russia became the owner of ordinary and preferred registered shares making over 99.99% of the Bank's charter capital as a result of the Bank's financial resolution carried out in accordance with the Plan for the Bank of Russia's Participation in Bank Bankruptcy Prevention Measures.

After the accomplishment of the financial resolution procedures, the Bank observes all required ratios, showing stable profitability, the statement notes.

Asian-Pacific Bank is a credit institution ranking 49th in terms of assets, 65th in terms of equity among Russian banks. The Bank is developing as a full-service credit institution and is focused on unsecured consumer lending. The key regions for the Bank include the Far Eastern and Siberian Federal Districts. The Bank of Russia owns almost 100% of the Bank's shares.