Alfa-Bank has been elected to rehabilitate Baltiyskiy Bank. The Bank of Russia’s banking supervision committee decided so on Wednesday evening, a banker who was interested in Baltiyskiy Bank’s rehabilitation told business daily Vedomosti and which was confirmed by the sources close to the regulator’s supervisory unit and Alfa-Group executives.
The Bank of Russia released its decision to rehabilitate Baltiyskiy Bank on August 20. Six banks (Alfa-Bank, Bank Otkritie, MDM Bank, B&N Bank, Vneshprombank, Novicombank) participated in a tender for the right to rescue the bank, Vedomosti’s interviewees said. Alfa-Bank spokesman Leonid Ignat claimed that the lending institution has so far received no official information from CBR, adding the bank is eager to win the tender.
Alfa-Bank could be given Rub 57 bln to rescue Baltiyskiy Bank. A man close to the bank’s management said that Alfa-Bank itself requested such an amount. Before the bidding process the regulator, according to the paper, oriented contenders to the aid amount of Rub 50—60 bln. A half of Rub 57 bln would most likely be spent to solve the bank’s problems, and the rest, as usual, would be invested in income generating assets, Vedomosti’s interviewees believe.
CBR’s banking supervision committee discussed the scope of problems faced by Baltiyskiy Bank. The difference between stated and real amounts of the bank’s assets, as the paper’s two interviewees said, is around Rub 33 bln. But the bank operated for a year when its shareholders were in conflict, and this might be not the final amount.
