Alfa-Bank’s top executives still cannot decide what to do with their new asset, Bank Severnaya Kazna, Alfa-Bank’s COO Valeriy Novikov announced in the course of an online conference held by the two banks. The conference was broadcast via Alfa-Bank’s official website. ‘We have to options to choose between: liquidation or a merger. The final decision will be taken by April 1, 2010, this is the deadline stated in the bank’s financial recovery schedule,’ Novikov explained when asked by a reporter. Yekaterinburg-based Bank Severnaya Kazna found itself on the brink of bankruptcy late in 2008 and

OAO Alfa-Bank was unable to retain all of Bank Severnaya Kazna’s customers, about 40% of whom refused to switch to the Moscow-based bank, Alfa-Bank’s Chief Operating Officer Valeriy Novikov announced in the course of an online conference held by the two banks. ‘Nevertheless, the remaining 60% of customers from various service segments actually became Alfa-Bank’s new clients,’ he added. Alfa-Bank’s management reports transferring business customers from Bank Severnaya Kazna to Alfa-Bank is more difficult than transferring private customers. ‘The business customer migration process is much more

The losses incurred by Bank Severnaya Kazna were actually planned by the management of Alfa-Bank, the new owner of the business, Alfa-Bank’s Chief Operating Officer Valeriy Novikov announced in the course of an online conference held by the two banks. ‘Bank Severnaya Kazna’s financial performance indicators look just like we expected them to,’ he said. In fact, Bank Severnaya Kazna’s losses increased by 2,944,317,000 RUR, or 187.13% last year compared with the year 2008. The bank’s net loss amounted to 1,563,449,000 RUR at the end of 2008 and to 4,517,766,000 RUR at the end of 2009. Bank

Sverdlovsk Region’s division of the Federal Antimonopoly Service keeps looking into a case involving OOO Alcor-C (L’Etoile cosmetics chain store). The company is suspected of violating Article 18 (part 1) of the Federal Advertising Act. Namely, the company is believed to be sending out text messages with advertisements without the phone number users’ written assent. The ad hoc committee first discussed the case in January 2010, but the proper handling had to be postponed because the defendant failed to produce the necessary papers. L’Etoile currently operates thirteen retail outlets in