KOMMERSANT. For the first time the Deposit Insurance Agency (DIA) could rehabilitate a troubled bank through the participation in its charter capital. This is the way the state is going to rehabilitate Bank Tarkhany, the second largest bank in the Penza region, which Rosselkhozbank and First Republic Bank, as well as Sea Bank, declined to rescue.
As DIA deputy general director Andrey Melnikov told Kommersant, the bank’s charter capital will be cut to the real amount of its equity and later on the agency will bump up the lender’s capital to the required level through an SPO. Until now DIA has abstained from buying into the capital of troubled banks, finding outside investors for them or as part of temporary administration measures assigning some assets and liabilities to sound players.
Director of the Department for Licensing and Financial Rehabilitation of Lending Institutions at the Bank of Russia Mikhail Sukhov confirmed DIA’s entry into the bank’s capital is one of the most likely scenarios of rehabilitating the lender if a decision is taken not to cancel the bank’s license. This option is applied if former owners are not prepared either to sell a bank at a symbolic price or improve the state of affairs at a bank. “If business is run efficiently the new owner represented by DIA could restore the bank’s ability to fully meet creditor claims and, on improving the quality of assets, sharpen the bank’s appeal for potential investors” — he noted.
A decision to introduce temporary administration procedures at Bank Tarkhany using DIA, a move next to a capital downsizing, could be adopted as early as January 11. According to Melnikov, after DIA gets a stake in the lending institution measures will be continued to find an investor for the bank.
