The Central Bank will sell rehabilitated Asian-Pacific Bank


MOSCOW, August 1. / The Bank of Russia intends before the end of the year to sell Asian-Pacific Bank (ATB), this asset is interesting for private investors, told journalists the Chairman of the Central Bank Vasily Pozdyshev.

“We will put the ATB on sale on a competitive basis, it should be done according to the law. These activities will begin in September. We believe that private banking and non-banking groups will be interested in purchasing such asset at the Central Bank. First, the Central Bank and the UK FCBS fully checked the quality of assets and internal procedures. Second, the asset itself, in our view, is attractive. He after a few months of interim administration (she came in April) is operationally profitable,” he said.

Pozdyshev believes that ATB will be sold in the capital at best. “It’s hard to count on the sale of the Bank by a factor of more than one capital. This objectively. Accordingly, we assume that ATB Bank will be sold in the best case, one capital,” he said.

The Chairman of the Bank of Russia has specified that “hole” in the capital ATB is 2.5 billion rubles, in August, the Bank will be capitalized at 10 billion rubles. “ATB is not included in any of the major reorganized groups. Bank with not such a large size [of capital] at the scale of the banking system, balance of slightly more than 100 billion rubles, but a significant one for the Far East. We are planning in August to complete the recapitalization. Now, after the interim administration, which made an assessment, the negative capital is 2.5 billion rubles. Until the end of August will complete the procedures for recapitalization, our estimate that the recapitalization will need about 10 billion rubles,” – he said.

After the capital increase the Bank’s capital will amount to 8-9 billion rubles due to the peculiarities of calculating capital, said Pozdyshev.

CBR in April approved the plan of measures on prevention of bankruptcy of the ATB. Functions of the interim administration imposed on the Fund management company of the consolidation of the banking sector. The Central Bank noted that ATB is one of the largest and socially significant regional banks of Siberia and the Far East. According to the regulator, ATB 60 takes place by total assets among Russian banks, with assets at April 1, amounted to 120 billion rubles.

It was also reported that the Bank of Russia during inspections found in ATB “financial pyramid” population of promissory notes of the company “FTK”, the debt which at the beginning of April on bills reached 4.3 billion rubles.

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