Bank Globex, a subsidiary of state-run VEB, increased its equity position in National Trade Bank, based in Togliatti, to 100%, said the lending institution’s statement quoted by RIA Novosti. The bank increased its stake to 100% from 16.69%.
Bank Globex was founded in 1992. For the record, Vnesheconombank picked up Bank Globex in late 2008 as part of the measures to stabilize the banking sector. CBR funded Bank Globex’s rehabilitation, providing Rub 87 bln. VEB owns 99.16% of the bank’s shares.
National Trade Bank has operated since 1994. The lending institution’s 9M10 RAS net profit totaled Rub 138.1 mln.
