PRESS: Promsvyazbank may classify mgmt members to avoid sanctions

MOSCOW, May 7 (PRIME) -- Russia’s Promsvyazbank, which is bailed out by the central bank, is considering the possibility of not disclosing members of the management as a measure to protect them from potential individual sanctions, Kommersant business daily reported Monday citing sources close to the bank.

At present, banks are obliged to provide on their websites information about qualification and work experience of members of the board of directors, chief accountant and their deputy, management and accountants of branches. Banks also disclose their owners.

The central bank has already developed a number of measures on securing information about sanctioned persons and deals connected with defense order. One of the draft documents allows not to disclose shareholders that were put in the sanctions lists, the daily said.

In January, the Finance Ministry said that the government will create a bank based on Promsvyazbank to handle defense order contracts in the conditions of Western sanctions.

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