October 9, 2017 / 12:19 PM / in 2 months

Credit Bank of Moscow in additional share issue worth 3.2 bln roubles

MOSCOW, Oct 9 (Reuters) - Russia’s Credit Bank of Moscow has told shareholders they have the preferential right to buy additional shares worth 3.2 billion roubles ($54.84 million), the bank said on Monday.

Shareholders can apply for the extra shares from Oct. 10-19, and the bank said in an emailed statement it did not rule out holding a second public offering “in the medium-term.”

Russia’s banking sector is under scrutiny after two major private lenders, Otkritie Bank and B&N Bank, had to be rescued by the central bank in the space of a month.

Vladimir Chubar, the chairman of Credit Bank of Moscow, said last month his bank was working to address any risk to liquidity from a potential outflow of deposits. Credit Bank of Moscow is Russia’s ninth biggest bank by assets.

A year ago, the bank said that it decided to raise its share capital by 3.2 billion roubles by issuing extra shares. .

$1 = 58.4050 roubles Reporting by Kira Zavyalova and Elena Fabrichnaya; Writing by Polina Nikolskaya; Editing by Andrew Osborn

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