MOSCOW, Aug 21 (PRIME) -- Russia’s B&N Bank, ranking 11th by assets as of July 1, is getting rid of non-performing assets, and may have 15 billion rubles injected in its capital in 2017, Avet Mirakyan, CEO of the Safmar Group, the bank’s shareholder, told Reuters on Monday.
“Capital injection is very likely later this year, about 15 billion rubles, but the figure can change,” Mirakyan said.
The bank has sold 10 billion rubles of troubled assets since the beginning of the year and sees asset purge as one of the goals, the agency said.
“All B&N Bank’ troubled assets are split into groups, and we work with each group. Some assets are connected with, for example, Tekhnosila. Here we will implement a model to merge them with M.Video and Eldorado to get a significant synergy effect,” CEO said.
He added that the group’s banking assets expanded substantially following a merger with MDM Bank and other banks and need special attention.
(59.3612 rubles – U.S. $1)
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