RIA NOVOSTI. Promsvyazbank intends to complete the takeover of Volgoprombank and City Bank of Nizhny Novgorod in the first half of June 2010, Promsvyazbank’s director for asset integration Igor Smelyansky told RIA Novosti.
Promsvyazbank’s April 2 AGM decided to reorganize these subsidiary banks via takeover by the parent bank. Both lending institutions entered banking group Promsvyazbank in 2008.
Volgoprombank’s takeover will make Promsvyazbank a champion in the Volgograd region among private banks (after Sberbank, Bank VTB and Gazprombank) in terms of the credit portfolio, Smelyansky said.
“We’ll have 15 additional offices and around 50 ATMs in the city and the region,“ he said. “For the region we’ll really become a big creditor bank,” the news agency’s interviewee added.
As for City Bank of Nizhny Novgorod, the bank’s takeover in this region will enable Promsvyazbank to expand the network to nine branches, including big towns (Bor, Gorodets, Sarov, Kstovo and Arzamas), and the ATM network in the region will reach 40 terminals.
“In Nizhny Novgorod we’ll get a foothold for business expansion," Smelyansky said.
Without a network it is difficult for the bank to provide a full range of services to clients. Now it will have a possibility of offering a wide array of its services to corporate clients, including SMEs and payroll projects, and households.
