Rus-Bank-Ural’s Asbest-based subsidiary started using its new name within the framework of the bank’s re-branding campaign. Instead of the old name of Ural Treasures Bank, the name of Rus-Bank-Ural Asbestovskiy is to be used in the customer agreements, advertisements, and internal and external correspondence now. The bank’s Perm and Kurgan subsidiaries are going to follow suit in the near future.

The news regarding the bank’s new name was initially announced via the Central Bank’s website on August 5, 2008; the information could be found under the Bank Updates rubric.

The whole thing started when Rus-Bank acquired 98.42% of Ural Treasures Bank’s shares at the end of 2007. Ural Treasures Bank was thus made a member of this large banking group.

On May 19, 2008, Ural Treasures Bank’s EGM resulted in the decision to rename the bank into Rus-Bank-Ural.

‘This subsidiary has been on the banking market for quite a while, so we’ve got plenty of experience and a great client base. Besides, integrating into Rus-Bank means we can develop even more dynamically: becoming a federal bank’s partner opens up a lot of new opportunities for our customers. One can now open a bank deposit, take a loan, or use the bank’s other services on much better terms,’ Director of Rus-Bank-Ural’s Asbest subsidiary Angelina Desyatova said to UrBC.