Bank Severnaya Kazna’s Chairman quits banking business

3 December 2008 (08:05)

Vladimir Frolov, the Chairman of Bank Severnaya Kazna, announced in the course of a press conference in Yekaterinburg that he was no longer going to be in the banking business.

‘I’m planning on taking some rest this month and deciding on what I want to do in the future,’ he said.

Meanwhile, Bank Severnaya Kazna’s controlling shareholding has recently been bought by Alfa Bank. Vladimir Frolov is reported to have had 22.49% of the bank’s shares.

‘We intend to make our product range consistent with that of Alfa Bank in the nearest future. Bank Severnaya Kazna will no longer operate independently, it is to be merged with Alfa Bank,’ Vladimir Frolov explained.

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