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The Central Bank appointed temporary administration in the bank “Peresvet”.


The Central Bank introduced a temporary administration in the bank “Peresvet”, the key shareholder of which is Russian Orthodox Church. Earlier the bank limited the issuance of deposits to customers: clients could have in hand not more than 100 thousand rubles or $1,5 thousand. Thereby, chairman of the Board Aleksandr Shvets, as reported the bank itself, is now staying in the hospital.

As the Central Bank reports, temporary administration was introduced on Oct, 21 due to denial of creditors’ claims on monetary obligations in terms exceeding seven days since the date of their satisfaction.

For the period of functioning of temporary administration the powers of the executive bodies of the Bank “Peresvet” are halted. Moreover, the Central Bank imposed a moratorium on satisfaction of creditors ' claims.

The day before, international rating agency Standard & Poor's (S&P) downgraded the credit rating of the Bank to CCC-. In the middle of the week, the agency Fitch sent for reconsideration of negative forecast on bank rating. At the end of September, the organization implemented a long-term default rating to the Bank on the level of B+, due to the fact, that a big number of the largest borrowers of the Bank were discovered to have “some signs of affiliation with each other or with the shareholders or management of the Bank”. The volume of high-ricked borrowers was evaluated to 12 billion rubles by Fitch.

In the beginning of the week, bank clients faced the problem of cash withdrawing limitations. “We have to provide ourselves with cash, that’s why we aren’t giving in hand more than 100 thousand rubles or $1,5 thousand this week”, - said to the TASS agency in the call-centre, adding, that appointment for receiving deposits is not required.

Limitations on the issuance of deposits for the set amount were introduces in connection with appearing of “negative” and “reality contradicting” information about the bank, that, by bank representatives, was meant as disappearance of Aleksandr Shvets - chairman of the board of the bank. “Chairman of the board is in Moscow, but is undergoing treatment in a medical facility, therefore is temporary not able to carry out the functions of the Chairman of the Board. During his absence, temporary fulfilling duties of the hairman of the board is appointed vice-president Pavel Panasenko”, - reported the bank.

The news about limiting the issuance of deposits effected the stock of a credit institution: according to Moscow exchange data, the stock of the bank “Peresvet” lost 28 % in value, from 104 rubles at the end of September, to 75 rubles in the middle of October for the paper.

After the announcement of the Central Bank on the introduction of the temporary administration, “Peresvet” stock value lost 28% more to 52 rubles.

According to opinion of Yuri Kravchenko, an analyst of company “Veles Capital”, the bank still has a chance to normalize work. “Exactly because of that the temporary administration was introduced. Though, in previous cases, like it was with Vneshprombank and Military-industrial Bank, the organizations lost their license”, - adds the analyst.

Two years earlier, in 2014, Central Bank revoked the license of the bank “Sofino”, that belonged to Russian Orthodox Church, due to the high-risk credit policy, associated with the placement of funds in low-quality assets.

JSCB "Peresvet" was registered on Oct, 13, 1992 and is historically connected with Moscow Patriarchate. 36,5% of the bank stock are controlled by “Financial and economic management of the Russian Orthodox Church (Moscow Patriarchate)”, 13,2 % belong to LLC “Sodeystvye”, that in its turn is the property of ROC.

Following 9 months of the current year, net profit of the Bank “Peresvet” amounted to 2,13 billion rubles, increased in almost 20% comparing with the same period last year, according to data of Banki.ru. “Peresvet” held the 41st place in terms of assets and the 47th in terms of equity on July 1, 2016.

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