to close down subsidiaries

11 February 2010 (10:42)

The management of OAO (Life Group’s asset) announced the potential closing down of the bank’s subsidiaries in Yekaterinburg.

‘What matters to us is that a subsidiary should make a profit. If this is not the case, it’s actually easier to close it down and strengthen another one with the released resources,’’s Deputy Chairman of the Supervisory Board Boris Dyakonov said at a recent press conference.

Boris Dyakonov did not specify which offices were to stop operating.

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