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1 December 2017

B&N Bank shareholders’ meeting takes decision necessary for write-down of subordinated loans

At an extraordinary general meeting of B&N Bank shareholders on 30 November 2017, the decision was taken to use the Bank’s retained earnings (RUB 17.6 billion) and additional capital (RUB 25.3 billion) to cover its losses. In accordance with Central Bank of Russia Regulation 395-P, this decision is necessary for B&N Bank to write off its subordinate loans.

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