Publisher
SNL European Financials Daily
Media Date
12-5-2017
Media Type
Document
Content Type
News Article
Country/Region
Russia
Language
English
Crisis
Russian Private-Banking Crisis (2017)
Case Series
Ad hoc Capital Injection
Intervention
Ad hoc Capital Injection
Additional Information
Otkritie Bank and B&N Bank, the financial recovery of which is overseen by the Russian central bank, wrote off their subordinated liabilities totaling 265.8 billion Russian rubles, Vedomosti reported Dec. 3. B&N Bank's shareholders decided to use undistributed profit of 17.6 billion rubles and share premium of 25.3 billion rubles to cover the bank's losses, the lender said Dec. 1, noting that the decisions were necessary to write off its subordinated liabilities.
Recommended Citation
Fojcik, Beata, "Report: B&N, Otkritie write off almost 266B Russian rubles of subordinated debt" (2017). Documents. 2659.
https://elischolar.library.yale.edu/ypfs-documents2/2659