Twelve militants of Islamic Jihad Mujahideen Jamaat grouping detained in KaliningradSociety & Culture April 27, 2:14
Russian Prosecutor General’s Office finds another 3 NGOs to be undesirableRussian Politics & Diplomacy April 26, 21:42
Moscow ‘seriously concerned’ about Turkish airstrikes in Iraq, SyriaRussian Politics & Diplomacy April 26, 20:55
North Korea ‘neither fears war nor wants to avoid it,’ says country’s UN missionWorld April 26, 20:37
Russia’s Emergencies Ministry to continue helping Serbia in mine clearance in 2017Military & Defense April 26, 20:20
Putin says Russia, China maintain relations at 'unprecedentedly high level'Russian Politics & Diplomacy April 26, 20:02
Polls shows number of happy Russians at record-breaking historic highSociety & Culture April 26, 19:27
IS recruiting Taliban fighters in Afghanistan — Russia’s General StaffMilitary & Defense April 26, 18:49
Coffin with presumed remains of 19th century Russian general dug up in TurkeySociety & Culture April 26, 18:26
MOSCOW, November 6. /TASS/. Uralsib bank shares growth in course of the trading session on the Moscow Stock Exchange on Friday reached 147%, setting historical maximum of December, 2011, when Uralsib shares were first placed on the Moscow Stock Exchange.
In the early trading on Friday Uralsib shares growth amounted to 30-40%. At the same time on Thursday, November 5, Uralsib shares were the undisputed leader of the trading session on the Moscow stock exchange, rising by 152.23% to 0,085 rubles per share. From the closing of trading session on November 3 the company’s shares have risen more than 5-fold from the level of 3.37 kopecks per share.
The company's shares grow amid reports that the head of the group Neftegazindustriya Vladimir Kogan concluded an agreement with the major shareholder of Uralsib Nikolay Tsvetkov to acquire 82% stake in the bank. The new owner will provide bank with the funds in an amount sufficient to ensure smooth operational activity and compliance with mandatory standards, in the form of loans amounting to 14 bln rubles ($219.79 mln) for the period of 6 years in the amount of 67 bln rubles ($1.05 bln) for a period of 10 years. The plan was presented to the Deposit Insurance Agency and was approved by the Board of Directors of the Russian Central Bank.
Uralsib bank occupies 27th place in the Russian banking system in terms of net assets. At the end of 2014 the bank received a loss under IFRS in the amount of 9.5 bln rubles ($149.13 mln), which is 6-foldgreater than the loss in 2013. At the same time in the first half of 2015 Uralsib received a loss in the amount of 10.23 bln rubles ($160.58 mln).
The main reasons for such figures were creating reserves for problem loans and increase in interest expenses. In the summer of 2015 the shareholders of the bank held its additional capitalization for 17.6 bln rubles ($276.2 mln).
Uralsib does not plan to apply for additional resources to the Deposit Insurance Agency and the Central Bank of Russia but has an opportunity to do so if the need arises, main shareholder of the bank Vladimir Kogan told TASS on Friday.
"We do not plan asking the Central Bank and the Deposit Insurance Agency for extra money. We believe funds allocated to us by the Deposit Insurance Agency after the decision of the Central Bank’s Board of Directors will be quite enough for additional capitalization of the bank and its further development. However, we have a clause that if there are any "skeletons in the cupboard", then we may accordingly apply to the Bank of Russia but it does not mean the Central Bank will give us these funds," Kogan said.
An investor should bear certain economic risks in such a situation, Kogan said. "We appraised these risks for our group and they are quite acceptable for us," he added.