Statement by Andrey Borodin

Neither my lawyers nor I have been told that an international arrest warrant has been issued against me in Russia. If an international arrest warrant has been issued now, eight months after I was removed from the Bank of Moscow, it is not because of the urgency of that investigation, in respect of which I have nothing to hide or be ashamed of. It is hardly a coincidence that this step should reportedly be taken immediately after my public statement that the takeover of Bank of Moscow was politically motivated and who was involved in achieving that.

Statement by Andrey Borodin

Today, certain media have disseminated information provided by investigative authorities that the latter intend, while interviewing Yuri Luzhkov, to find out the circumstances in which the Moscow Government purchased additional Bank of Moscow shares issued in 2009 and worth approximately RUR 15 billion. In the meantime, specific efforts are being made to create a negative public perception of this information by artificially placing it in a criminal context.

As head of the Bank of Moscow at the time, I find it necessary to provide a clarification on this subject. It will be recalled that the year 2008 witnessed a global financial crisis when, due to objective circumstances, the equity of Russian and international banks significantly declined, whereas opportunities for raising capital largely evaporated. Lending institutions suffered from lack of liquidity. Thus, the steps taken by the bank’s shareholders to increase its capital via an additional share issue buyout appear reasonable and sound. Continue reading

Andrey Borodin’s Statement

The so-called Bank of Moscow development strategy, which was made public yesterday, demonstrates yet again that when the ‘effective managers’ from VTB took over our bank they did not have the slightest understanding of why they might need this asset. This means that behind these actions was a political decision to gain control over Bank of Moscow as well as a desire of certain individuals to make a profit out of this. Continue reading