Lev Kvetny has become the sole owner of the bank NATIONAL STANDARD and approved the start of its regional expansion. According to unofficial data, a branch will open soon in Novorossiisk, where NOVOROSCEMENT is located. The bank also plans to operate in Astrakhan, Sochi, Kursk and Voronezh. Analysts estimated RUSYUGBANK at $20—25 million. The bank’s ROC is good, equalling around 20% last year.
Source: VEDOMOSTI, August 15, 2007
