The Bank of Russia has established fact that Fondservicebank materially overstated the value of its assets, CBR deputy chairman Mikhail Sukhov told Banki.ru.
It became known earlier on Wednesday that the regulator appointed the State Depositary Insurance Agency (DIA) to administer Fondservicebank for a while. The Bank of Russia's press service said that the priority objective is to analyze the bank's financial standing. Meanwhile, it was specified that Novicombank would take part in solving the bank's current problems.
"Given specific features of Fondservicebank's clientele, the Bank of Russia accepted a proposal made by the State Depositary Insurance Agency (DIA) to exploit Novicombank's experience in dealing with various industries," Sukhov said.
According to him, with the participation of Novicombank and the Bank of Russia the DIA will assess Fondservicebank's financial standing and will discuss ways of its further operation to hammer out measures to keep the bank operating.
"The preliminary assessment of the situation shows that despite substantial claims to the asset quality, Fondservicebank is presently capable of maintaining liquidity without borrowing from the DIA," the CBR deputy chairman emphasized.
