The supervisory council of Binbank approved the sale of the non-profile and problem assets for 110bn rub. to Trust Bank on which basis the non-profile assets bank is under formation, the Bank informed.
The sale is assumed to include several stages up to 2018 end.
Binbank is going to sell problem corporate credits and securities and to improve financial patters due to the cut-down in the corporate credit portfolio and reduction of reserves on problem debts.
This transaction is the last measure aimed to clear the Binbank's book before its merger with FK Otkrytie Bank set for Jan. 1, 2019.
Binbank (TIN 7731025412) was formed in 1993 with 3.415bn rub. in share capital. It is ranked as one of 30 largest banks in Russia. It provides services to private persons, large corporate clients, small entities, etc.
"AK&M", 17:30, 11.07.2018 1251 AKM,BNK,ECO0