Report: CEO says capital of merged Otkritie FC Bank at 315 bln rbl

MOSCOW, Jan 9 (PRIME) -- The capital of Otkritie Financial Corporation (FC) Bank after its merger with B&N Bank amounts to 315 billion rubles, one of the largest in the Russian banking system, CEO Mikhail Zadornov said in an interview with Rossiya 24 television channel on Wednesday.

“The capital of the united bank – as we have already assessed it – amounts to around 315 billion rubles, it is one of the largest capitals. It is made of ready cash alone, as we put it. That is why the merged bank meets more than all the requirements,” he said.

Zadornov also said that Otkritie FC Bank will rank fourth or fifth by assets among Russian banks.

“We will have the ability to grant loans to more largest Russian companies with such capital,” he added.

In October, the CEO said that the new Otkritie FC Bank’s assets would reach 2.3–2.4 trillion rubles by January 1.

Otkritie FC Bank and B&N Bank were bailed out by the central bank from summer 2017. In February 2018, the regulator unveiled its intention to merge the banks aside from their bad and non-core assets. The merger officially finished on January 1, 2019.

(69.4706 rubles – U.S. $1)

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