The Central Bank announced negotiations on the sale of the MinBank to Promsvyazbank
The acquisition of MinBank by Promsvyazbank is one of the options that the regulator is currently considering. In early December, Promsvyazbank has already acquired the rehabilitated Roscosmosbank
The Bank of Russia is negotiating the sale of the rehabilitated Moscow Industrial Bank (MINBank) to Promsvyazbank, the Central Bank’s press service told RBC.
“This is one of the solutions being worked out, taking into account the bank’s profile, a large portfolio of industrial loans, and its presence in the regions. These features of the business model reduce the bank’s attractiveness for private investors, but at the same time may be of interest to Promsvyazbank, which is developing similar directions, ”explained the press service of the regulator.
Earlier today, December 28, in the Telegram channel of the Frank RG publication, a letter was published addressed to the “heads of the IT services of the Minbank”, in which it was reported that “a decision was made to join the MinBank to Promsvyazbank.”
The Central Bank took the Moscow Industrial Bank for reorganization at the expense of the Fund for Consolidation of the Banking Sector in January 2019 (at that time, the credit institution was ranked 33rd in the Russian banking system in terms of assets). Vasily Pozdyshev, who at that time was deputy chairman of the Central Bank, estimated the bank’s corporate loan portfolio at 183 billion rubles, of which about 123 billion rubles. were problematic or potentially problematic. The bank actively provided loans to high-risk industries – construction and agriculture. Pozdyshev then noted that the bank was not engaged in mass lending to projects of its owners.
Before the reorganization, the bank’s share capital was divided between different owners, whose stakes did not exceed 9%, 12.4% of the bank belonged to its permanent head Abubakar Arsamakov (died of coronavirus in November 2020) and his family.
In July 2019, the Central Bank announced that it would capitalize on the MINBank by 128.7 billion rubles. And in January 2020, the regulator filed a lawsuit in the Moscow Arbitration Court against 19 former top managers and co-owners of the bank for 195.7 billion rubles. (subsequently the amount increased to 198 billion rubles), demanding compensation for losses from the costs of rehabilitation. In August, the court took the side of the regulator, now the appeal against this decision is being contested in the appellate instance.
Promsvyazbank, which also went through reorganization from the funds of the FKBS, and now functions as a pivotal bank for the defense sector, in early December acquired another rehabilitated bank – Roskosmosbank (formerly Fondservicebank). The bank was reorganized back in 2015, at first Novikombank was engaged in its rehabilitation, in 2018 the bank was transferred to Roskosmos (it was planned that it would become the base for the space company).
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