Bank Severnaya Kazna fined for failure to comply

Dmitriy Vinogradov is no longer a shareholder of OAO Bank Severnaya Kazna (the asset of Alfa-Bank). He used to own a little over 10% of the bank’s shares, which have recently been sold to VALLAUR LIMITED. Yekaterinburg-based Bank Severnaya Kazna had to undergo a financial recovery procedure at the end of 2008 after it had been very near bankruptcy. The procedure was carried out by the bank’s new owner, Alfa-Bank, and Deposit Insurance Agency. The new proprietor intends to close Bank Severnaya Kazna down as an independent business and is now gradually moving to the bank’s total phase-out. In

Alfa-Bank recently completed the financial recovery of Bank Severnaya Kazna; the last stage of the recovery process consisted in merging Bank Severnaya Kazna with Alfa-Bank, Alfa-Bank’s press service reports. Data as to Bank Severnaya Kazna going into liquidation through a merger with Alfa-Bank have already been added to the Unified State Register of Legal Entities.

Alfa-Bank’s top executives still cannot decide what to do with their new asset, Bank Severnaya Kazna, Alfa-Bank’s COO Valeriy Novikov announced in the course of an online conference held by the two banks. The conference was broadcast via Alfa-Bank’s official website. ‘We have to options to choose between: liquidation or a merger. The final decision will be taken by April 1, 2010, this is the deadline stated in the bank’s financial recovery schedule,’ Novikov explained when asked by a reporter. Yekaterinburg-based Bank Severnaya Kazna found itself on the brink of bankruptcy late in 2008 and

Following Bank Severnaya Kazna’s financial recovery procedure, only 28.57% of the bank’s business customers got transferred to Alfa-Bank, the new owner. ‘Bank Severnaya Kazna had about 21,000 active business customers, of whom approximately 6,000 joined Alfa-Bank,’ Alfa-Bank’s Regional Business Customer Development Director Mikhail Povaliy said in the course of an online conference broadcast via Alfa-Bank’s official website. When asked about the number of Bank Severnaya Kazna’s e-customers at the start of the financial recovery procedure, however, Alfa-Bank’s top executive seemed at a loss.

OAO Alfa-Bank bought out all the shares of OAO Bank Severnaya Kazna that it hadn’t previously owned yet, thus increasing its stake from 95.03099% to 100%, Alfa-Bank Yekaterinburg branch’s PR Director Anna Gorobtsova informed UrBC. ‘The buyout was completed in full compliance with the legal requirements and at a market price that was actually higher than the price Alfa-Bank purchased the stock at during the buyout offer launch,’ she said. Alfa-Bank offered to buy the shares out from Bank Severnaya Kazna’s other stockholders at the end of March 2010; the suggested price was 0.000256497 kopecks