Project Financing Bank has been in talks with the Central Bank of Russia over a lombard credit and other measures to stabilize its liquidity positions, said a press release posted on the lending institution’s website.
The bank noted that an anti-crisis program had already been launched. “We are convinced that a set of stabilization measures will help preserve all assets of retail and corporate clients, execute all cash and deposit withdrawal applications, and also to carry out other spending items in full," the bank emphasized in the press release.
Previously Project Financing Bank told a Banki.ru correspondent that the lending institution has been holding negotiations with the Bank of Russia over a stabilization loan. Information about credit rate hikes also surfaced, but this process was suspended as there was no official letter from the regulator.
News broke last week that the bank faced liquidity problems and retail deposits are repaid based on prior applications. The lending institution reported on Tuesday that prior to the completion of stabilization measures 15 units of the bank temporarily do not serve clients, and 8 additional offices are open only on weekdays.
