Kerimov comes to rescue of SMP-Bank again

According to Russian business daily Kommersant (13 November 2012), billionaire oligarch and Dagestan Senator Suleiman Kerimov is once again providing funds for SMP-Bank, which is owned primarily by brothers Boris and Arkady Rotenberg (with interests of 37.27 per cent each), who allegedly have close ties with President Vladimir Putin.

As in August 2012, Kerimov is placing a USD 50 million subordinated deposit at the bank, which will subsequently be classified as capital further to a request filed with the Central Bank by SMP-Bank. This move will enable the bank to keep its capital adequacy ratio at above 10 per cent.

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