The Central Bank proposed to demand a business plan from banks when buying more than 10% of another credit institution

The Bank of Russia wants to oblige credit institutions to provide a business plan when receiving more than 10% in another bank. Also, a business plan will need to be provided by the Central Bank in case of direct or indirect control over the shareholders of another bank, who have more than 10% of the shares. This follows from the draft guidance posted on website regulator.

Now a business plan, among other things, is required when creating a credit institution or its reorganization. The planned date for the entry into force of the Bank of Russia document is October 1, 2023.

The business plan of the bank should contain data on its goals, objectives, marketing policy, performance results and risks. Interfax.

Maria Fedotova