B&N Bank to cut capital to 1 rbl under central bank order
MOSCOW, Jan 17 (PRIME) -- RussiaТs B&N Bank, which is undergoing a bailout through the central bankТs Banking Sector Consolidation Fund, is reducing its charter capital to 1 ruble under an order by the central bank, the bank said on Wednesday.
The bankТs capital currently stands at around 17.5 billion rubles.
The central bank announced a bailout of B&N Bank in September 2017. In December, the central bank said the capital of B&N Bank contracted by 61.9 billion rubles in November to minus 36.4 billion rubles.
(56.3878 rubles Ц U.S. $1)