OREANDA-NEWS. January 28, 2010. The Bank of Russia Public and External Relations Department and the State Corporation “Deposit Insurance Agency” (DIA) Public Relations Centre inform about accomplishing as of January 1, 2010, financial rehabilitation measures for the “Joint Stock Investment-Commercial and Industrial-Construction bank for the Nizhegorodskiy Region” – JSC “Nizhegorodpromstroibank” (the city of Nizhniy Novgorod), registry #1851.

In accordance with Article 6 of the Federal law “On Additional Measures to Strengthen Stability of the Banking System Through December 31, 2011”, on November 17, 2008 the Bank of Russia approved Plan for DIA participation in financial rehabilitation of the JSC “Nizhegorodpromstroibank”. The above plan was implemented by DIA jointly with an investor – JSC “Sarovbusinessbank”.

In December 2009 DIA prepared and submitted to the Bank of Russia a report on completing financial rehabilitation measures for the bank, according to which all measures set forth in the above plan were implemented. The bank fully stabilized its operations and it has adequate development potential. The bank carries out profitable business and operates in normal regime complying with all prudential regulatory requirements. The accomplished measures enabled eliminate all the grounds, necessitating measures aimed at preventing the bank’s bankruptcy. Resources provided by the Bank of Russia to DIA for implementing financial rehabilitation measures were fully repaid.

The above report was reviewed by the Bank of Russia Committee on Bank Supervision and taken into consideration.