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Athens News Agency: News in English, 08-09-04

Athens News Agency: News in English Directory - Previous Article - Next Article

From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

  • [01] MPB buys Russian bank

  • [01] MPB buys Russian bank

    Marfin Popular Bank announced the completion of its acquisition of controlling interest in the OOO Rossisysky Promyishlenny Bank (Rosprombank), the first such acquisition in Russia by a Greek bank, after receiving the necessary approvals by the regulatory authorities of Russia and Cyprus.

    The acquisition was completed with the transfer of a majority package of 50.04 percent of the equity interest of the Russian CJSC RPB Holding, Rosprombank's parent company, to MPB for 83 million euros.

    With the completion of the transaction, MPB has acquired controlling interest of the Russian bank, rendering it the first bank in Cyprus and Greece to acquire a Russian bank.

    The acquisition is part of MPG's plans for evolving into a key player in Southeast Europe, and is anticipated to have a positive impact on the Marfin Popular Bank Group's results.

    Following the addition of Rosprombank, the MPB Group's international network will number 478 branches in Cyprus, Greece, Russia, Ukraine, Romania, Serbia, the UK, Malta, Estonia and Australia.

    Rosprombank was established in 1997 and has a dynamic presence through its network of 32 branches and points of service in major Russian cities, including Moscow and St. Petersburg and their surrounding areas.

    As per the audited financial statements for 2007, Rosprombank had net profits of 6.3 million euros, with shareholder interest reaching 53.7 million euros, total assets of 297.5 million euros, and overall deposits of 177.6 million euros.

    Rosprombank is a fast growing bank in Russia with considerable involvement in financing small-to-medium size businesses, while it will also promote retail banking through its speedily developing network.

    Caption: Customers visit a branch of Marfin Popular Bank (MPB) -- the biggest financial organization in Cyprus and the second largest in Greece -- in central Athens, Monday 15 January 2007. ANA-MPA/ORESTIS PANAGIOTOU


    Athens News Agency: News in English Directory - Previous Article - Next Article
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