Central bank says Orient Express Bank’s cap adequacy too low

MOSCOW, Jul 12 (PRIME) -- Capital adequacy Í1.1 of Orient Express Bank has been lower than the minimum threshold set by the central bank for six business days, the ruler said in a statement on Friday.

Interim CEO Alexander Nesterenko said on June 14 that Orient Express Bank saw the risk of breaking the central bank’s capital adequacy rule and was asking the board of directors to support its financial stability.

On June 13, Orient Express Bank fulfilled the order of the central bank to raise the reserves by 5 billion rubles, and an official of the bank said that its financial stability was doubtless.

(62.9944 rubles – U.S. $1)

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