Report: B&N, Otkritie write off almost 266B Russian rubles of subordinated debt

Author/Creator

Beata Fojcik

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