27 Russian banks approved for recapitalisation: Russia’s Deposit Insurance Agency today (February 5) circulated a list of Russian banks that have been approved for recapitalisation through federal loan bonds (OFZ). Each of the banks on the list will be eligible to apply for RUB830bn from a pot of a trillion roubles on the condition that they commit to increase their lending in the mortgage and SME sectors by minimum of 1% each month for the next three years.
The banks who have made the cut are:
- VTB,
- VTB 24
- Bank Moskvy
- Gazprombank
- Russian Agricultural Bank
- Alfa Bank
- Otkritie
- KMB Otkritie
- Promsvyazbank
- MKB
- Bank St. Petersburg
- Rossiya Bank
- Uralsib
- Ak Bars,
- The Interregional Commercial Bank of Communications Development
- Yugra
- Zenit
- Petrocommerce
- MDM Bank
- Binbank
- Globex, MTC-Bank
- Novicombank
- Vozrozhdenie
- Absolut Bank
- Moscow Industrial Bank and
- Sovcombank.