Igor Kim leaves MDM Bank

MDM-Bank and URSA Bank announced recently that their stockholders decided to put their shares together in order to set up a banking holding and thus one of Russia’s leading universal banks. ‘Following the merger, the new bank, with its 72-billion-ruble capital and 523 billion RUR worth of assets is to become one of the country’s major banks. This merger of two strong and reputable banks results from in-depth strategic analysis and is bound to be mutually beneficial. In fact, the new bank will be able to take advantage of over 500 offices located in all of the country’s federal districts,’

URSA Bank’s extraordinary general meeting took place on July 30, 2009 and resulted in the election of a new Board of Directors. The new BOD actually became necessary due to bank’s merger with MDM-Bank. The new Board now comprises seven members altogether. ‘The new bank’s stockholders are rather diverse, which is good for the business’s dynamic long-term development. Today we elected the BOD consisting of renowned top class experts with enormous experience in the field of international financing and with great knowledge of the Russian banking sector. The bank’s shareholders and directors will

‘URSA Bank and MDM-Bank’s principal shareholders talk the same language and aim to make the new holding Russia’s leading private bank. This is why coming to an agreement was easy enough. It became clear early in the negotiation process that our goals coincide,’ URSA Bank’s BOD Chairman Igor Kim announced at a press conference in Novosibirsk. Igor Kim feels this is an unprecedented deal scale-wise. ‘This is something yet unique to Russia’s banking system. The impact made by the current crisis can be seen as not being very significant, since the merger talks started as early as a year ago, and

A press conference on the bank’s new developmental stages organized by URSA Bank’s top management and the bank’s business partners was held in Interfax’s press center. It was announced that Russia New Growth Fund managed by Troika Capital Partners (TCP) had bought URSA Bank’s shareholding consisting of 7.4% of the bank’s ordinary shares acquired from S.M. Capital Group. Experts’ estimates of the bank’s capitalization range from $2.5bn to $2.4bn. URSA Bank has been doing business with Troika Dialog for a quite a while now; their latest success story involved going through with two preference

OAO Uralfinprombank got a brand new set of stockholders recently. The bank’s new proprietors are Natalya Pronina (17.08%), Vitaliy Kunitsin (16.47%), Rustem Kadyrov (15.62%), Alexander Dankov (17%), Svetlana Belova (14.91%), and Andrei Belov (18.92%), the company’s official report states. At the same time, members of the Supervisory Board Stanislav Shanaurin and Tamara Udelnova, who used to have 4.72% and 0.33% of shares, respectively, no longer have a share in the bank’s authorized capital. The same is true of BOD members Sergey Udelniy and Valeriy Metelskiy, whose shareholdings used to come