RIA NOVOSTI. Holding group Petropavlovsk decided to fold Kamchatprombank and Kolyma-Bank into Asian Pacific Bank, RIA Novosti reported quoting Kolyma-Bank’s statement.
Apart from said banks, the holding consists of M2M Private Bank, leasing firm EXPO-Leasing and insurer Gelios-Reserv. Earlier it also included Expobank until it was sold to Barclays Bank.
The financial holding is part of Petropavlovsk Group whose major assets are metal makers Aricom and Peter Hambro Mining Plc. Aside from the major assets Petropavlovsk Group is comprised of gold-mining businesses, including Pokrovsky Mine, Odolgo and Omchak Gold Mining Company. The holding’s ferrous metallurgy division involves Olekminsky Mine, Garinsky GMK, Kimkano-Sutarsky GOK and Uralmining (a JV with GMK Norilsk Nickel).
