Upon results of a tender Alfa-Bank has been named to rehabilitate Baltiyskiy Bank, the Bank of Russia’s press service reported on Friday.
“Alfa-Bank’s financial possibilities make it possible to perform rehabilitation of Baltiyskiy Bank," the regulator emphasized.
In line with the revised rehabilitation plan, the State Depositary Insurance Agency (DIA) will provide Baltiyskiy Bank with aid of Rub 57.4 bln for a term of 10 days from CBR’s coffers. Moreover, the financial institution is expected to go through reorganization by folding it into Alfa-Bank.
As DIA pointed out in the press release, the agency will fully control the bank’s rehabilitation. Until the reorganization Baltiyskiy Bank is expected to operate on a routine basis, proving a full range of services to the clients.
The regulator announced its resolve to rehabilitate Baltiyskiy Bank on August 20. It was reported that DIA would pick an investor for participation in the bank’s rehabilitation until September 8. The media already wired that Alfa-Bank would be in charge of Baltiyskiy Bank’s rehabilitation. Based on Vedomosti’s data, Bank Otkritie, MDM Bank, B&N Bank, Vneshprombank and Novicombank took part in the tender.
