OREANDA-NEWS. The international rating agency Moody’s has withdrawn the ratings of Vostochny Bank, the report said in the American media. The agency explained this decision with own business considerations. At the time of the withdrawal, the long-term and short-term deposit ratings of the bank were at Caa1/Not Prime, the long-term and short-term counterparty risk ratings were at B3/Not Prime, the long-term and short-term counterparty risk assessment was B3 (cr)/Not Prime (cr), the baseline credit rating (BCA) is at the level of caa1, and the adjusted BCA is at the level of caa1.

In mid-June, the Central Bank further instructed Vostochniy to add reserves in the amount of 5 billion rubles. to cover bad loans. The requirements were mainly related to the corporate portfolio of Uniastrum Bank, which was merged with Vostochny in 2017. Since September 2018, Vostochny Bank has accrued about 24 billion rubles. reserves. Acting Chairman of the Board of Vostochny Bank Alexander Nesterenko asked the bank’s shareholders for financial support, since the bank’s capital adequacy is at a critically low level.

Vostochny has two groups of shareholders - Finvizh Artyom Avetisyan and his partners, minority shareholders Sherzod Yusupov and Yury Danilov (together own 40.2% of the bank), and the Baring Vostok fund founded by Michael Calvi (through the Cyprus structure Evison owns 52% of shares "East"). The shareholders had a dispute, the subject of which was the option of almost 10% of the bank, which Baring did not exercise, believing that FVision had violated the terms of the agreement.

The refusal to exercise the option, the company Avetisyan found unlawful and decided to enforce the contract in court. As a result, the Arbitration Court of the Amur Region ordered Baring to exercise the option. Within the framework of another process, “Finvizhn” has achieved interim measures on emission. The founder of Baring Vostok, Michael Calvi, is under house arrest. He was suspected of fraud at 2.5 billion rubles.