RBC. The Bank of Russia has decided to announce a tender for the right to rescue Svyaznoy Bank, a source close to the regulator said, and a banker confirmed. As a RBC interviewee said, the Bank of Russia agreed to provide Rub 2 bln to rehabilitate the bank. Meanwhile, according to the second source, the regulator offers too little money to make banks interested. "If no bidders turn up, the bank's license will be revoked," said the source.
As of October 1, 2015 Svyaznoy Bank's assets were slightly above Rub 29 bln, or half as much as at the beginning of the year. The bank's credit portfolio has shrunk 54% YTD to Rub 19 bln, while retail deposits have slid 52% to Rub 13.7 bln. As of October 1, 2015 the bank's capital adequacy ratio (N1.0) fell below the critical 2% level, dropping to 0.98%. In this case the Bank of Russia must revoke the bank's license. The regulator has 15 days to take the relevant decision since the time when the bank gives the Bank of Russia notice of this fact. Svyaznoy Bank notified the regulator of the breach of the ratio on October 6, and the 15-day period ended on October 20. DIA's inspection at the bank finished on Friday, October 9.
Svyaznoy Bank management board chairman Evgeny Davidovich told RBC that he is unaware of the adopted decision.
Till September Renaissance Credit was considered to be the main contender to rescue the bank. This summer Renaissance Credit applied to FAS seeking permission to buy 100% of Svyaznoy Bank, but withdrew its application in September. "We remain moderately interested, but will be guided by the project's economic issues," Renaissance Credit management board chairman Alexei Levchenko said.
The media previously reported that Expobank and Finprombank are interested in rehabilitating Svyaznoy Bank.
