State-run corporation Deposit Insurance Agency (DIA) and Nomos-Bank announced the completion of the measures taken to rehabilitate Nomos-Bank-Siberia (former Bank EEFC-Siberia) starting October 21, 2010. DIA’s plan of actions to prevent Nomos-Bank-Siberia from going bankrupt was approved by CBR’s Banking Supervision Committee on April 15, 2009. Promgazkomplekt, a subsidiary of Nomos-Bank, became the bank’s investor.
The companies said in a statement that all actions envisaged by Nomos-Bank-Siberia’s rehabilitation plan were taken within the specified deadline. The bank took measures to restore its business reputation and increase its customer base, efficiency of which was underpinned by improvements in its primary financial indicators. Benchmarks of the rehabilitation plan are complied with.
As of October 1, 2010 the bank posted profit (Rub 187.3 mln). As of the specified date the bank’s own funds, calculated in line with Statute No. 215-P “On the Methodology of Determining Own Funds (Capital) of Lending Institutions” of the Bank of Russia dated February 10, 2003, amounted to Rub 1.04 bln.
During the first nine months of 2010 the lending institution complied with all CBR requirements to ratios. In accordance with Instruction No. 2005-U “On the Valuation of the Economic Condition of Banks” of the Bank of Russia dated April 30, 2008 the Chief Directorate of the Bank of Russia in the Novosibirsk region moved Nomos-Bank-Siberia to the group of banks without current difficulties.
As of October 20, 2010 Nomos-Bank-Siberia’s rehabilitation problems were settled. The lending institution demonstrates a sustainable development trend, generates profit throughout 2010 and can continue further development on its own.
