Verkhne-Volzhsky Neftebank (VVNB, Nizhny Novgorod) ceased its operations following the merger with Express-Tula, the regulator’s RP department reported.
According to the directorate of the Federal Tax Service (FTS) in the Tula region a record was made on November 7, 2011 under entry #2117100009552 in the Unified State Register of Legal Entities on the termination of VVNB’s activity following the bank’s reorganization through the takeover by Express-Tula. Based on this report a record was made in the State Book for Registration of Lending Institutions on the termination of the activity at Verkhne-Vozhsky Neftebank effective November 7, 2011.
Express-Tula is to open a Nizhny Novgorod branch on the basis of VVNB, the report said.
Express-Tula is a mid-sized regional bank with operations centered on the Tula region. The bank’s priority areas of business are lending and maintaining accounts of corporate customers, SMEs, and private deposits. The bank was registered by the Central Bank of Russia in March 1995. Its major shareholders are: Sergey Khudyakov (19.36%), Konstantin Tomenchuk (13.59%), Flagman LLC (8.31%, its beneficial owners are Irina and Sergey Khudyakovs), Modex LLC (8.26%, its beneficial owners are Valery and Denis Kretovs and Valentina Govorova), InvestForm LLC (8.21%, its beneficial owners are Natalia Desyatkina, Mustafa Kadyrov and Valentina Romanova), PartnerPlyus LLC (8.18%, its main beneficial owner is Konstantin Tomenchuk), IntelSfera LLC (7.97%, its beneficial owner is Alexander Polynkin), Tatiana Nizikova (5.31%), Yulia Barinova (5.13%) and Dmitry Mikhailin (5.00%). As Banki.ru data show, as of October 1, 2011 the lending institution’s assets stood at Rub 6.08 bln (No. 303 in Russia), capital (calculated in line with CBR requirements) came to Rub 640 mln, the credit portfolio totaled Rub 5.01 bln and obligations to households amounted to Rub 4.18 bln.
As Banki.ru data show, as of October 1, 2011 net assets held by Verkhne-Volzhsky Neftebank totaled Rub 920 mln (No. 735 in Russia), capital (calculated in line with CBR requirements) amounted to Rub 170 mln, the credit portfolio came to Rub 550 mln and obligations to households equaled Rub 540 mln.
