The Central Bank of the Russian Federation put B&N Bank into the provisional administration of the Banking Sector Consolidation Fund Management Co., the regulator said Dec. 15.
The move will enable the implementation of corporate procedures necessary to change the amount of the authorized capital and form new management bodies at B&N Bank, the central bank noted.
The lender was bailed out by the Russian regulator in September and reportedly moved to write off its subordinated liabilities at the beginning of December.
