wrote down 1.5 billion Russian rubles of subordinated debtwith interest in order to bolster its core capital ratios, Vedomosti reported Oct. 7.
Thelender's core capital ratio N1.1 fell below 5.125% between Sept. 20 and Sept.27, triggering the write-down decision, the news report said, citing theRussian central bank. The minimum required for the N1.1 ratio is set at 4.5%.
Arepresentative of ROSENERGOBANK said the subordinated loans written down by thelender were provided by its 12 shareholders, each of whom holds no more than10% of the share capital, the newspaper noted.
InSeptember, Moody's changed the outlook on ROSENERGOBANK to negative from stable,pointing to a sharply rising share of restructured loans, Vedomosti said.
As of Oct. 6, US$1 wasequivalent to 62.29 Russian rubles.