Binbank buys 99.84% stake in Uralprivatbank

BINBANK’s Board of Directors decided in the course of a recent meeting to close down the bank’s representation in Nizhniy Tagil, Sverdlovsk Region. This means the office located at 64 Lenin St. will soon stop operating. The exact date of the liquidation is to be set by BINBANK’s President Mikhail Shishkhanov; he will also have to carry out all the procedures necessary to go through with the closure.

BINBANK’s Board of Directors decided to close down some of its representations in a number of Russian regions, including those in Volgodonsk (Rostov Region) and Magnitogorsk (Chelyabinsk Region). The bank’s President Mikhail Shishkhanov is to set the date for the closing down and to carry out all the procedures related to the closure.

The net profit of Binbank (calculated in accordance with the Russian Accounting Standards) dropped by three times in the first half of 2012 and came to 223m RUR against 688m RUR a year earlier. This was mainly due to the need to create non-core asset reserves, a less impressive stock market dynamics, and an increase in the salary fund insurance payments, Prime refers to the bank’s press office as saying. The bank’s business customers lending portfolio rose by 16% in six months of the year and reached 70.4bn RUR due to attracting about 5,100 new customers. Binbank’s retail portfolio rose by 7%

BINBANK’s Yekaterinburg subsidiary placed an application with Yekaterinburg Verkh-Isetskiy district court. BINBANK asks that a lost 36-million-ruble promissory note (UM 113753) issued to Uralfinprombank should be declared invalid. At the same time, the bank would like to restore its promissory notes rights later. This news has been announced via Oblastnaya Gazeta. The note was issued on July 14, 2009 and was to be paid on demand but no earlier than March 1, 2010. It was suggested that the promissory note holder should place an application with the court in order to declare its rights over the

December 22, 2014. Yekaterinburg banks don’t seem to have enough foreign currency in cash: not every bank is able to sell a customer $1,000 or €1,000. Uralprivatbank reports it has no more dollars in its Pervomayskaya St branch. The one in Wilhelm de Genin St is out of euros. Promsvyazbank’s outlet in Nikolay Nikonov St says they are out of dollars and can only sell euros. Binbank’s branch in Sverdlov St claims they have no foreign currency in cash, while its branch in Bankovsky Lane is out of dollars but can still sell euros. MDM Bank’s branch in Lenin Ave says they have no cash whatsoever