Central Bank supports privatization of banks from Federal Securities Commission, maintains plans for sale of Otkrytie – Nabiullina

TASS Russian News Agency | Sep 13, 2019 at 2:33 PM

SOCHI, September 13. / TASS /. The Central Bank of the Russian Federation supports the privatization of banks from the Fund for the Consolidation of the Banking Sector (FBS), maintains plans to sell Otkrytie in 2021, regulator head Elvira Nabiullina told reporters on Friday.

"We want to sell faster, and we support the privatization of these banks, even without regard to the discussion that is currently underway. We believe that Otkritie should be sold in 2021, almost a year later, we want to start selling this bank, "she said.

Earlier, Central Bank reported that the sale to a private investor of a group of the Bank Otkrytiye rehabilitated by the Central Bank, including the insurance and pension business, is possible in 2021-2022.

The Central Bank became the main owner of Otkrytie FC in August 2017. Otkritie was the first bank to which the new reorganization mechanism was applied not through soft loans, but due to the Central Bank entering the capital of the rehabilitated bank using the funds of the Banking Sector Consolidation Fund.