‘The fact that the bank now turned into an open joint stock company is not likely to affect its market position in any way whatsoever. There are hundreds of close joint stock companies out there that keep developing successfully. Besides, Sverdlovsk Gubernskiy Bank is one of Russia’s Top 200 banks, so it would probably be an exaggeration to say that it cannot compete with some other organization,’ says Alexander Osin, Finam Management’s leading economist.

Sverdlovsk Gubernskiy Bank has recently gone through with the official registration of a new type of a joint stock company, switching from the close type to the open one. In addition, the bank’s full and abbreviated brand names were modified as well.

‘An open joint stock company is better suited for shareholders who might want to leave the business, as all the other proprietors won’t have the priority buying option. What is more, finding a strategic or a financial investor might be easier. I am inclined to think that the bank might now get some new shareholders,’ Alexander Osin notes.

‘If one looks at the bank’s assets and financial indicators, it keeps on developing stably. It’s hard to make any forecasts at the moment, but Sverdlovsk Region Government still owns a shareholding in the bank, so the company can probably count on the money it brings in.’