The Central Bank of Russia (CBR) determined ten systemically important banks in the country, which are subject to additional equity and liquidity requirements in accordance with Basel III international standards.
AO UniCredit Bank is one of the banks on the list of Russia's Systemically Important Banks.
Starting from 1 October 2015, these banks, which account for more than 60 per cent of the Russian banking sector assets, will be required to maintain a liquidity coverage ratio of over 60 per cent. Furthermore, a 10 percentage points’ increment will start to be added on the top of that annually from 1 January 2016 until the ratio reaches 100 per cent by 1 January 2019.
Impact on investors: The inclusion of AO UniCredit Bank in the list of the ten systemically important banks in Russia reflects the significance of the bank for the local banking sector.