“M2M private Bank”, Russia’s only Bank that claims to work exclusively with wealthy clients in recent times has difficulty making payments.

This was announced on Friday, the Agency TASS referring to the official statement, “Asian-Pacific Bank” (ATB), which is a 100% owner of the shares of M2M.

The cause is short-term cash gap related to the shortage of liquidity. “ATB together with the “M2M private Bank” and the Central Bank is developing a mechanism of normalization of the situation in M2M. We hope that next week M2M will restore normal activities,” the Bank said.

Next week the mechanism, including the capitalization of the M2M shall be approved by the Bank of Russia.

November 7 “M2M private Bank” has not fulfilled the second part of the REPO transaction on 329,4 million rubles, said earlier the Moscow exchange. The Board of Directors of the Bank on 2 November considered the question about the order of the Bank of Russia. The essence of the regulations, the Bank did not disclose.

According to October 1, net assets amounted to of 19.46 billion rubles, funds of individuals – 6,15 billion rubles, credit portfolio – of 14.64 billion. The capital of the company at the reporting date amounted to 4.13 billion rubles.
For the first three quarters of this year, ATB was ranked 49th place in terms of assets among Russian banks, “M2M private Bank” – 155-th place.

The main shareholders of ATB are the Peter Hambro, Pavel Maslovskiy and Andrey Vdovin, among the minority shareholders of the Bank including East Capital Financial Funds and the IFC.



The only Russian “Bank for the rich” has faced difficulties in making payments 17.11.2016

Share this news

Share to Google Plus
Share to LiveJournal