Alfa Bank buys Bank Severnaya Kazna cheaply, Unicom Partner says

‘Bank Severnaya Kazna’s acquisition by Alfa Bank can be considered a good buy. The latter has been trying to attract some investment resources for business development for several years now. They did this trough bonded loans, but the sums thus obtained were not too impressive, whereas the interest rate was high enough,’ says Unicom Partner Investment & Finance Company’s Deputy GD for Corporate Consulting Dmitriy Zemerov.

Bank Severnaya Kazna sold its controlling shareholding to Alfa Bank, Alfa Bank’s official statement featured via Bank Severnaya Kazna’s website reports.

‘One can say that Alfa Bank has bought Sverdlovsk Region’s second largest bank at a propitious moment when the business costs relatively little and a significant discount is offered because of liquidity problems and leaving depositors. In fact, the bank might also have suffered some losses as a result of its inter-bank lending and corporate bond transactions,’ Zemerov adds.


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