The Central Bank completed the reorganization of Uralsib Bank ahead of schedule – Kommersant

The Central Bank decided to complete the reorganization of Uralsib Bank ahead of schedule, which has been going on since 2015. Press service of the regulator reportedthat all measures to prevent bank bankruptcy have been completed.

As a result of the reorganization, the stable financial position of Uralsib was restored, the quality of assets was improved, and reserves were formed for problem assets. “The bank complies with the mandatory standards established by the Bank of Russia and carries out its activities in a standard supervisory regime,” the Central Bank said in a statement.

The reorganization of Uralsib became known in November 2015. The Central Bank explained that a wide range of factors for the loss of the market value of assets was identified at the bank, including the loan portfolio, transactions with controlled financial institutions, as well as land plots. At the same time, the regulator noted that the reasons for the loss of market value are “purely economic.” The Central Bank estimated Uralsib’s need for additional capital at 44 billion rubles.

Businessman Vladimir Kogan became the sanator of Uralsib in 2015 – for the first time, an individual acted as a bank sanator. He died in 2019. As part of the reorganization, his widow Lyudmila Kogan became an investor, who inherited 81.8% of the shares of the credit organization.

Lusine Balasyan