OREANDA-NEWS. November 27, 2009. The Office of the Federal Antimonopoly Service in the Saratov region (the Saratov OFAS Russia) found that "ROSBANK" Shareholding Commercial Bank OJSC and "Rosgosstrakh" OJSC violated Clause 5 Part 1 Article 11 of the Federal Law "On Protection of Competition" (imposing unfavorable contract conditions upon a counteragent or conditions irrelevant to the subject matter of the contract), reported the press-centre of FAS Russia.

"ROSBANK" Shareholding Commercial Bank OJSC and "Rosgosstrakh" OJSC violated the law by entering into an agreement that contained additional conditions for the borrowers - a mandatory insurance of the title ownership of estate property, as well as life and working ability of the borrower, co-borrower or a guarantor in guaranteed credit agreement.

The case was initiated upon the Saratov OFAS Russia receiving notifications of the agreements between those financial organizations.

Having investigated the case, the Saratov OFAS Russia issued determinations to the bank and the insurance company to terminate the competition-restricting agreements and stop exercising concerted actions.