PRIME-TASS. Shareholders of Novosibirsk-based Alemar and Moscow-headquartered Mezhtopenergobank decided to merge the lending institutions in 2010, the Novosibirsk-based lender told Prime-TASS Friday. “Shareholders of both banks will retain stakes in the merged lending institution," said a joint statement prepared on February 11.
The statement said that “the merger aims to strengthen market positions of the shareholders’ banking business by setting up a unified lending institution, a Top 100 lender, that relies on advanced banking technologies and has a wide regional coverage”.
The merger decision finalized negotiations held since August 2009. Alemar Group and Mezhtopenergobank launched cooperation in 1999. “During the period at different stages of cooperation the lenders had the idea of merging banking operations, but only in ten years a merger synergy became evident to all participants. It should be noted that the upcoming merger is an equal union, in which every party sees clear advantages in joint business conduct," the joint statement said.
At present, the banks’ executives are making merger preparations and adjusting the unified technology platform.
For the time being, the lending institutions have not yet released 2009 financials. As of October 1, 2009 Bank Alemar’s assets stood at Rub 9.30 bln, capital equaled Rub 1.36 bln and charter capital came to Rub 1.12 bln. The bank’s major shareholders are Limbrok (69.72%) and Integral (22.62%). On the same date Mezhtopenergobank’s assets totaled Rub 11.60 bln, equity came to Rub 1.97 bln and charter capital equaled Rub 250 mln. Its major shareholders are Yury Shutov (10.01%), Finstroyeit (owned by Shutov) (10%) and Promfinstroy (6.68%).
