September 22, 2014 4:03 PM ET

Company Overview of Deposit Insurance Agency

Company Overview

Deposit Insurance Agency is based in Russian Federation.

Verkhnyi Taganskyi Tupik, 4

Moscow,  109240




Key Executives for Deposit Insurance Agency

Deposit Insurance Agency does not have any Key Executives recorded.

Deposit Insurance Agency Key Developments

OJSC AF Bank Files Request with National Bank of the Republic of Bashkortostan, Central Bank of Russia and Russian State Corporation Deposit Insurance Agency to Consider Implementing Measures to Prevent the Bankruptcy of the Bank

OJSC AF Bank has filed a request with the National Bank of the Republic of Bashkortostan for the regulator, the Central Bank of Russia and the Russian State Corporation Deposit Insurance Agency to consider implementing measures to prevent the bankruptcy of the bank. As disclosed in the company's information memorandum dated February 14, 2014, the bank has faced challenges satisfying its capital adequacy and liquidity requirements. The Regulator continues to monitor the Bank closely and to issue orders for the Bank to take measures to create provisions in its accounts for non-performing loans and other impaired assets and increase its equity capital. As a result of the creation of provisions (most recently the creation of provisions in the amount of RUB 639.7 million on 5 March 2014) and a significant decrease in its equity capital - accompanied by an increasing outflow of deposits from corporate and individual depositors-the Bank's capacity to operate and to perform its liabilities in a timely manner has become considerably impaired. The company is of the view that, in the current circumstances, the Regulator has the power to intervene to prevent the bankruptcy of the Bank pursuant to the Russian federal laws applicable to the bankruptcy of credit institutions and, accordingly, the Regulator could as a matter of Russian federal law take steps to revoke the Bank's operating license, which could potentially result in the Bank being subject to bankruptcy proceedings.

DIA Plans To Sell Non-Core Assets In 2013

Andrei Melnikov, Deputy Chief Executive Officer of Deposit Insurance Agency (DIA) said that the company is planning to raise RUB 37 billion via sale of non-core assets in 2013. Melnikov said, "Beginning in the next few days, we are starting to offer assets for sale in portions. The plan for this year is to sell assets totaling RUB 37 billion, at least to position them on the market as for sale." Melnikov added that DIA has non-core assets worth RUB 100 billion. Melnikov said, "This year is a decisive year in work with them to transform them from material form to monetary. We want to feel out the market, understand what kind of demand there is for these land parcels. Earlier we did pre-sale preparations. We will try to offer these assets for sale several times without lowering the price. We will see how the sales go, think, maybe it's worth selling some assets at a small discount, worth waiting with some." DIA will offer to sell 399 land parcels and stakes in 22 economic entities.

Alexander Turbanov to Resign as Head of Deposit Insurance Agency Effective January 1, 2013

Alexander Turbanov is resigning as head of Deposit Insurance Agency and could leave down effective January 1, 2013.

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