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Weekly Lists
July 13, 2018 www.intellinews.com I Page 28
bne:Banker
Russia’s Binbank to sell non-core assets to the CBR’s “bad bank” for RUB110bn
Ukraine's nationalised PrivatBank open to settlement with former oligarch owners
Troubled commercial bank Binbank (aka B&N Bank) will sell RUB110bn ($1.77bn) non-core and distressed assets to its former sister bank Trust bank, which is being turned into a de facto “bad bank” by the Central Bank of Russia (CBR).
Both banks were amongst the so-called Garden Ring banks that went bust in the autumn of 2017 and had to be rescued by the CBR.
The CBR has since taken the banks over and is retasking them with jobs before they are eventually privatised. Binbank’s assets will be transferred in several stages until the end of 2018. Binbank is selling troubled corporate loans and securities, which the
CBR believes will allow it to significantly improve its financial performance.
Ukraine's largest lender Privatbank, nationalised in late 2016, may consider an out-of-court settlement with the bank’s former main shareholders, oligarchs Ihor Kolomoisky and Hennadiy Bogolyubov, Engin Akchakocha, head of the PrivatBank’s supervisory board, said on July 10.
Akchakocha said that "every option is on the table" when asked if he would consider an out-of-court settlement with the bank’s former main shareholders, although he said he did not want to comment directly on the legal cases, Reuters reported the same day. "Resolving a problem peacefully is easier and better than trying to resolve it through a fight."
"It all needs appropriate willpower and goodwill," he added when asked about the prospect of the former owners helping tackle PrivatBank’s bad loans.
The European Bank for Reconstruction and Development (EBRD) said on July 6 it has invested €100mn in a subordinated bond is- sued by Romania’s Banca Transilvania (BT) as part of a total aggre- gate issuance of €250mn.
The investment increases competitiveness in the banking sector by supporting balance sheet restructuring and capital adequacy for a systemic financial institution, the EBRD said.
At the end of June, BT announced the successful closure of its €285mn placement of 10-year unsecured Tier 2 Capital subordi- nated bonds denominated in euros aimed at eligible investors.
EBRD invests €100mn in subordinated bond issued by Romania’s Banca Transilvania