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Thursday, August 17, 2017

Rosbank updates status in recapitalization efforts

Rosbank released information on Friday regarding preliminary calculations of capital adequacy ratios under new stipulations from the Central Bank of Russia (CBR) to help the country's banking system recover.

The bank reported both its Core Capital Adequacy Ratio N1.1 and Main Capital Adequacy Ratio N1.2 at 7.6 percent as of Jan. 1. The CBR requires 5 and 5.5 percent, respectively. Its Total Own Capital Adequacy Ratio N1.0 was at 13.45 percent, which is higher than the 10 percent required by the Central Bank.

With these ratios, the bank stated that it does not need additional supporting tools from the regulator, and it has taken measures to ensure it is within the parameters set by the CBR.

The bank is among 19 financial institutions that the Russian Federation and the CBR consider to be strategic banks in the effort to help the country's economy recover.

The bank serves more than 3.3 million clients across 71 regions in the Russian Federation.

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RosBank - Russia

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