RIA NOVOSTI. The Federal Anti-Trust Service (FAS) has satisfied a request filed to fold Bank Potential, based in the Samara region, into Rossiysky Capital (Moscow), FAS said in a statement, RIA Novosti wired.
The primary shareholder of both banks is the Deposit Insurance Agency (DIA) that has been carrying out rehabilitation programs at these lending institutions.
For the record, in order to strengthen Bank Potential’s financial stability in July 2011 DIA decided to fold the bank by April 30, 2012 into Rossiysky Capital that will be provided with a subordinated loan of up to Rub 300 mln. DIA substantiated its decision by the fact that the poor quality of assets and insufficient expansion of active operations because of the consequences of the financial and economic crisis prevented it from turning Bank Potential into a profitable venture within a short period of time.
The banks’ consolidation, as DIA expects, will result in the establishment of a competitive lending institution with a wide network.
