The American State Street Bank and Trust Company, one of the world’s largest financial institutions and one of the key players in the field, now co-owns Chelindbank: the bank bought a 6.64% stake in the business (53,500 shares), Marker reports.

State Street Bank is part of the corporation by the same name, one of the United States’ leading providers of financial services to institutional investors. As of December 31, 2011, State Street was in control of $1.9 trillion, while its net profit dropped by 9% in the first quarter of 2012 and came to $427m. The bank’s quarterly revenues reached $2.42bn.

State Street Bank and Trust Company have already got some other assets in Russia; for one, the company owns an 8.29% shareholding in Razgulyay, an agro-industrial holding.

The size of the shareholding the business purchased points to a typical portfolio investment in a regional bank, says Sovlink analyst Olga Belenkaya.

‘Given the market evaluation of the bank’s Tier 1 capital, a 6.64% shareholding equals to about 375m RUR,’ she says.

Chelindbank’s stockholders happen to be private individuals.