NOVOSIBIRSKVNESHTORGBANK, VTB’s Novosibirsk subsidiary, may change hands after transferring its business to the head bank. It may sell for $70 million. NOVOSIBIRSKVNESHTORGBANK is fully owned by VTB. According to INTERFAX CEA agency, as of January 1, 2007, the bank was 178th in terms of assets (R6.4 billion) and 222nd in terms of equity capital (R714m). Unofficial reports say URSA BANK, BANK OF MOSCOW and GAZPROMBANK were interested in the deal. NOVOSIBIRSKVNESHTORGBANK is estimated at $70m.
Source: VEDOMOSTI, April 18, 2007
