24 December 201009:31

Bank VTB Severo-Zapad to merge with Bank VTB

It was decided in the course of OAO Bank VTB’s extraordinary general meeting that OAO Bank VTB Severo-Zapad should be reorganized through a merger with VTB, the former bank’s reports say.

VTB has already confirmed the merging agreement and stated that the company’s creditors should be informed of the news.

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Bank VTB Severo-Zapad’s Board to close down Yekaterinburg-based subsidiary

Bank VTB Severo-Zapad’s Supervisory Board’s recent meeting resulted in the decision to close down Uralskiy subsidiary. The office was located in Marshall Zhukov St. in Yekaterinburg.

11 February 201001:21

VTB Severo-Zapad’s net profit drops 1.6 times

The net profit of OAO VTB Severo-Zapad (Bank VTB’s daughter enterprise) decreased by 1.6 times in 2009, that is, down to 3.8 billion RUR, the bank reports. In 2008, the company’s net profit amounted to 6.04 billion RUR.

23 October 200801:21

Bank VTB Zevero Zapad makes 189 people redundant

‘Banks are already producing redundancy reports. Bank VTB Severo Zapad, for instance, is about to make 189 employees redundant. These are mainly lending experts that were formerly employed in the bank’s subsidiaries,’ says Yekaterinburg Employment Center’s Deputy Director Anatoly Kudryashov. In the meantime, the region’s State Labor Inspection reported as many as twenty-six Sverdlovsk Region-based enterprises had asked a number of people to leave by October 15, 2008.

03 February 201101:21

Alfa-Bank to merge with Bank Severnaya Kazna

Alfa-Bank will soon go through a reorganization in the form of a merger with Bank Severnaya Kazna. It was decided at the BOD meeting today that the issue would be considered at Alfa-Bank’s extraordinary general meeting. The EGM has been scheduled for March 22, 2011. The shareholders will also have to discuss the ways of informing creditors and the Bank of Russia about the upcoming reorganization and to make changes in the company’s Charter. The Board of Directors decided that the bank’s ordinary shares can be bought out at 1,112 RUR apiece.

22 September 200801:21

URSA Bank to take part in auction

The Russian Federation Finance Ministry allowed twenty-eight banks to take part in an auction where they will compete for the right to keep the budgetary funds in their deposits. All of these banks have at least BB long-term credit rating (according to Standard & Poor's or Fitch) or Ba3 rating (according to Moody’s). What is more, these banks are all on the country’s Top 50 Banks list. They are: Absolut Bank, Bank Ak Bars, Alfa Bank, Bank VTB, Bank VTB 24, Bank VTB Severo-Zapad, Gazprombank, Eurofinance Mosnarbank, Bank Zenit, Credit Europe Bank, MDM Bank, Bank of Moscow, Nomos Bank,