Details of normalization of insolvent banks announced

Details of normalization of insolvent banks announced
# 25 November 2016 12:10 (UTC +04:00)

The Action Plan includes merging of insolvent bank with 75% state-owned bank or purchase by such a bank, transfer of over 50% shares of the insolvent bank to the state under condition of selling them to an investor later or increase of authorized capital thanks to state funds, purchase of less than 50% of bank’s shares by the state on condition that it it manages the bank and sells participation share to existing shareholders or sells bank’s all shares to a new investor later, transfer of bank to the management of the Financial Markets Supervisory Authority”.

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THE OPERATION IS BEING PERFORMED