claims dependability despite lack of independence

19 February 2009 (09:03) (which is no longer operating as an independent entity) keeps proclaiming itself a reliable business.

‘ has one of Sverdlovsk Region’s strongest durability potentials at the moment,’ the bank reports.

Nevertheless, the bank was faced with a severe challenge in October 2008: its customers started leaving with their money en masse, so the bank just stopped meeting its liabilities by freezing both the private individuals’ and legal entities’ deposit accounts. As a result, the bank was only able to survive thanks to the state-run Deposit Insurance Agency’s help.

What is more,’s BOD Chairman Sergey Lapshin has recently been reported to resign; from now on, he is to be one of the Board of Directors’ members, while the new Chairman will be elected among Life Group’s representatives. As it happens, Probusinessbank, Life Group’s core business, is’s majority shareholder at the moment.

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