KOMMERSANT. Barclays Bank that was acquired from UK lender Barclays by Igor Kim, a co-owner of MDM Bank and Orient Express Bank, and his partners will probably expand via an aggressive M&A strategy, business daily Kommersant writes on Monday quoting sources.
“Next year Igor Kim plans to fold three or four banks into Barclays Bank," a source said. Kim pursued a similar aggressive M&A policy when rolling out his previous banking projects, the newspaper notes.
According to the newspaper, one of Barclays’s expansion targets could be Krasnoyarsk-based Stromcombank. Vladimir Mashkarin acquired 19.82% of the bank’s shares in September. In spring Dmitry Ganushkin who earlier ran MDM Bank’s Krasnoyarsk branch headed up the bank. The newspaper writes that Latvian Trade Bank is also among Igor Kim’s possible acquisitions.
