Russian cbank discusses Peresvet Bank’s bailout with creditors

MOSCOW, Nov 15 (PRIME) -- Russia’s central bank is discussing financial recovery of Peresvet Bank, the country’s 43rd largest bank by assets, together with the bank’s creditors, Central Bank Deputy Chairman Vasily Pozdyshev told reporters Tuesday.

“The central bank together with major creditors is discussing options of financial recovery,” he said.

The central bank introduced an interim management at the bank for six months on October 21 and a moratorium on fulfillment of liabilities to the bank’s creditors.

Earlier on Tuesday, Kommersant business daily reported that the central bank had worked out an offer to shareholders and creditors of Peresvet Bank and had offered a financial recovery through the bail-in mechanism with attraction of an external turnaround manager. The total cost of the bailout may reach 106.2 billion rubles, the business daily said.

(65.8591 rubles – U.S. $1)

End