Promsvyazbank denies report on cbank’s order to raise reserves

MOSCOW, Dec 14 (PRIME) -- Russia’s Promsvyazbank has denied media reports that it received an order from the central bank to raise reserves by 100 billion rubles, a spokesperson for the bank told PRIME on Thursday.

Business daily Vedomosti reported earlier on Thursday citing informed sources that the central bank has demanded that Promsvyazbank raise reserves by about 130 billion rubles.

The spokesperson said that the information concerns a check by the central bank completed in May and that a final report has not been confirmed yet. “We are in a dialogue with the central bank and we do not foresee such big risks judging by the tone of the dialogue.”

In August, Alfa Capital analyst Sergei Gavrilov warned clients of the company about problems at Otkritie Financial Corporation (FC) Bank, B&N Bank, Promsvyazbank, and Credit Bank of Moscow. Since then, the central bank has launched financial recovery procedures at Otkritie FC Bank and B&N Bank.

(59.1446 rubles – U.S. $1)

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