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21 September 2017

B&N Bank CEO Yevgeny Davydovich comments on the current situation

“The Central Bank of Russia has announced its agreement to undertake the financial rehabilitation of B&N Bank. This means that the CBR will provide the Bank with full support, both management and financial. And, most importantly, our clients have no grounds for concern: the Bank continues to work as usual, fulfilling all its obligations, making payments, issuing loans and taking deposits. Our broad product offering is available to clients in full.

We have already said that for the convenience of clients in the coming days, our offices throughout Russia will be working for two hours longer than usual. We have extended the working day specifically so that any client who wishes to can come to one of our offices and perform any banking operations. At the same time, I would like to emphasise once again that thanks to the support of the CBR, the uninterrupted work of the Bank is ensured and we have sufficient funds to fulfill all our obligations.

Thus, there is absolutely no need to withdraw deposits early and lose the accrued interest.

The entire management team of the Bank and I personally will make every effort to ensure that the financial rehabilitation of B&N Bank under the full control of the regulator is implemented as effectively as possible. We remain one of the largest banks in the country and the State’s support will enable us to strengthen our position, improve the quality of our products and services, and most importantly – to be a robust bank in which every client can have confidence.”

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