Corporate debts wait for liquidation of problem banks

“Moscow Capital” Bank and “Moscow Pledge Bank” followed the pattern of “Elektronika” Bank, to which DIA applied partial sanation scheme. NOMOS-BANK has received retail deposits for 13 milliard Roubles, as well as a portion of “Moscow Capital” office estate and loan portfolio. The recipient of 2 milliard worth of retail deposits and a portfolio of loans to municipal enterprises of the Moscow Region from “Moscow Pledge Bank” may be announced as early as today. Corporate clients of “Moscow Capital” Bank and “Moscow Pledge Bank” will likely be able to claim suspended funds only in the course of the banks’ liquidation process.

On Friday, DIA announced the results of the tenders for the selection of banks that will receive assets and liabilities of “Moscow Capital” Bank and “Moscow Pledge Bank”. NOMOS-BANK won the DIA competition with regard to the “Moscow Capital” Bank. So, NOMOS-BANK will receive liabilities before retail customers totalling 13 milliard Roubles. NOMOS-BANK will begin full-scale servicing of former “Moscow capital” clients effective 11 January — upon receipt of necessary documentation. Together with liabilities before “Moscow Capital” depositors, the Bank will receive a portion of assets for the equal amount. They comprise several offices of the problem bank (their transfer price was determined by an independent appraiser) and a portion of the credit portfolio (which is transferred based on its balance sheet price).