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Central Bank to discuss future of My Bank, where deficit is over 8 billion rubles

January 24, 2014, 11:27 UTC+3 MOSCOW

In autumn, the central bank began clearing the banking sector

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© ITAR-TASS/Anton Tushin

MOSCOW, January 24. /ITAR-TASS/. The Bank of Russia’s banking control committee will discuss the situation at the My Bank, the Vedomosti daily reports referring to a source close to the regulator.

My Bank (‘Moi Bank’ in Russian), the source said, “has been facing a most complicated situation” — problems with liquidity, the capital deficit may be 8-10 billion rubles. The difference between the bank’s assets and obligations is about 8 billion rubles (about $235 million).

In autumn, the central bank began clearing the banking sector and has revoked licenses from problematic banks. However, the situation with My Bank may be different.

The bank has forwarded to the regulator a plan for readjustment, a source close to the bank’s co-owner and a source close to the central bank said. The bank’s well-known and influential clients have been lobbying its rescue, the sources said.

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