Probusinessbank highly likely to buy

4 December 2008 (08:01)

Probusinessbank is the most likely customer of’s controlling shareholding at the moment, Novosti Advertising & Information Agency claims.

‘The agreement might be signed as soon as this week,’ the agency says referring to their source (someone in the know of negotiations’ proceedings). has been experiencing liquidity problems lately and even had to stop all external payments last week until an investor could be found. In November 2008, applied for financial aid from the Central Bank of Russia and the Deposit Insurance Agency. Quite recently, the bank had to give up on the 24/7 working hours in all but one of its offices.

Probusinessbank was set up in 1993 and is Life banking group’s flagship enterprise. Incidentally, the group also comprises VUZ-Bank.

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