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Company / Laws

Sberbank and VTB did not agree with the schemes of transfer of capital promsvjazbanka

News - Legal advice 25.04.2018 at 06:58

News - Legal advice

Russian

the state-owned banks have blocked amendments to the law on the state defence order,

providing for the transfer associated with defense enterprises

loan portfolio and capital into the PSB, according to two sources,

familiar with the course approval document.

the Government

creates on the basis of PSB reference Bank for the state defense order and

large government contracts to protect Russian banks from U.S. sanctions.

the Bank, the intention of the Cabinet, will give the balance of PSB

defense loans and with them the corresponding capital.

this is the latest version of the bill the norm about obligatory

the transfer Promsvyazbank capital along with the assets missing. "It's

will be decided corporate procedures – the right to decide on

the transfer of the capital will be given to the shareholders," – said the source.

a source tells that, initially prepared by the Ministry of Finance

amendments contained three schemes for the transfer of capital promsvjazbanka, however,

state-owned banks did not agree to any of them. According to one of the

interlocutors, the savings Bank has offered is to remove from the bill all

paragraphs, outline the scheme for the transfer of capital. VTB also sent

a negative opinion on the proposed scheme, told close to

one of the state-owned banks source. Sberbank declined to comment,

other banks did not respond to a request.