PRESS: Russian cbank to blacklist 120 managers of Otkritie

MOSCOW, Oct 18 (PRIME) -- Over 120 managers of troubled Russian bank Otkritie Financial Corporation (FC) Bank will be included in the central bank’s blacklist, Kommersant business daily reported Wednesday citing sources.

These will be the bank’s beneficiary owners, members of the supervisory board and management, chief accountant and his deputy, as well as heads and chief accountants of the bank’s branches.

Otkritie FC Bank is undergoing bailout procedures launched by the central bank at the end of August.

The regulator also said in September it will bail out troubled B&N Bank, and sources told Kommersant that around 100 managers of this bank could also be blacklisted, but no relevant instructions have been given yet.

No official comments were available.

The central bank has been maintaining the blacklist of bankers for over 10 years. The list includes managers of banks that were declared bankrupt after the license revocation, as well as managers of credit organizations that are being bailed out. Managers are blacklisted for five years and are prohibited from obtaining top positions at banks and owning over 10% in banks during this period. Under a new bill that will come into force in January 2018, the blacklist period will be raised to 10 years.

As of July 26, the regulator’s blacklist comprised 6,675 people.

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