Government of Bashkortostan and Rossiysky Capital Bank signed a cooperation agreement

UFA, 20 October 2015. /Bashinform News Agency, Ksenia Kalinina/. On October 19, at the House of the Republic the Head of Bashkortostan Rustem Khamitov met with the Chairman of the Rossiysky Capital Bank Mikhail Kuzovlev. During the meeting an agreement was signed between the Government of Bashkortostan and PJSC "Rossiysky Capital".

"The agreement provides for the main directions of cooperation between the Government and the bank, which should fast enough enable creating new areas of activity for Sotsinvestbank and a new niche for its successful operation,” said at the final press conference the Deputy Prime Minister of the Government of Bashkortostan Rustem Mardanov. “The Board of the Rossiysky Capital Bank will become a shareholder of Sotsinvestbank and will implement procedures related to its resolution, "rehabilitation" of the bank activities".

“Sotsinvestbank operates in the same way as before. Now the phase begins when the bank becomes a subsidiary of Rossiysky Capital,” said Mikhail Kuzovlev. “The agreement signed today involves a plan of our joint work with the republic. It will be a kind of "road map" for further activity".

The agreement provides for projects on restructuring and modernization of housing and communal services; implementation of a universal social security card; connection of Sotsinvestbank to the banking support system of state and municipal orders and purchases; development of social institutions in municipalities; the bank's participation in the program of small business support.

Recall that in August, the Central Bank decided on rehabilitation of Sotsinvestbank and approved changes to the plan of "Deposit Insurance Agency" participation to prevent the bankruptcy of the bank. PJSC "Rossiysky Capital" was engaged in financial restructuring of Sotsinvestbank.