The CONVERSBANK financial group is unifying four Russian banks into a bank with assets to exceed R30 billion and capital to reach R3.0b. Specifically, the group is to unify INVESTBANK (Kaliningrad), CONVERSBANK (Moscow), GRAN BANK (Yekaterinburg) and VORONEZHPROMBANK (Voronezh). The unified bank may be rated among the top 50 Russian banks in the near future, said Vladimir Antonov, chairman of CONVERSBANK’s supervisory board.
Source: BANKI.RU, May 10, 2007
