Alfa-Bank: Information of Russian banks’ instability incorrect

MOSCOW, Aug 16 (PRIME) -- Information about instability of some Russian banks mentioned in Alfa Capital’s newsletter, is incorrect and is a private opinion of a manager, Alfa-Bank said on Wednesday.

Vedomosti daily reported that Alfa Capital warned its clients about problems at Otkritie Financial Corporation (FC)Bank, B&N Bank, Credit Bank of Moscow and Promsvyazbank. The newsletter said that the situation may be resolved in autumn, and the banks’ subordinated bonds are at the highest risk.

Alfa-Bank said that it continues operations with Otkritie FC Bank, B&N Bank, Credit Bank of Moscow and Promsvyazbank on a regular basis and has no reliable information about their problems.

A central bank representative said the regulator is against distribution of such research materials. “We plan to hold a supervisory check and to ask the Federal Antimonopoly Service to check them for unfair competition,” the representative said.

A B&N Bank spokesperson said that the information about problems of the banks is groundless.

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