UTair to close down branches

OAO National Bank Trust is going to close down its subsidiaries in Ryazan and Irkutsk, with the branches transferred into the category of the bank’s Lipetsk and Barnaul subsidiaries’ retail outlets, respectively. Therefore the bank’s BOD ruled that Chairman of the Supervisory Board should place all the necessary papers with the Central Bank of the Russian Federation’s head office in Moscow as well as with the Central Bank’s divisions in Lipetsk and Irkutsk Regions. National Bank Trust says nothing about the future of its Yekaterinburg office so far.

UTair Airlines JSC held the annual general meeting on June 15, 2006. The shareholders approved of the annual report, the accounting report, and the P&L statement for 2005. They also dealt with the profit distribution and declared the dividend of .067 RUR per ordinary share. Besides, the attendees decided that UTair should become Fellow of International Air Transport Association. Rosexpertisa Ltd. and Ernst &Young were chosen as the company’s auditors for 2006, in the field of compliance of the company’s financial activity with Russian legislation and in the field of International

Utair Airlines assessed the results of their activity in the eight months of 2006. Within this period, the company has serviced 1,609,288 passengers and handled 701.1 tons of airmail and 5,734 tons of freight. The company flew the 71,575 flight hours, reports the spokesperson for Utair.

Raiffeisenbank Supervisory Board’s recent meeting resulted in the decision to close down a number of the bank’s regional subsidiaries. For one, the bank’s Kamskiy branch in Perm and Chelyabinskiy branch in Chelyabinsk will be closed in November and December 2009, while Nizhegorodskiy branch in Nizhniy Novgorod and Yeniseyskiy branch in Krasnoyarsk will stop working for the months of December and January.

The management of OAO Bank24.ru (Life Group’s asset) announced the potential closing down of the bank’s subsidiaries in Yekaterinburg. ‘What matters to us is that a subsidiary should make a profit. If this is not the case, it’s actually easier to close it down and strengthen another one with the released resources,’ Bank24.ru’s Deputy Chairman of the Supervisory Board Boris Dyakonov said at a recent press conference. Boris Dyakonov did not specify which offices were to stop operating.