The Bank of Russia registered amendments to Extrobank’s charter that relate to the change of the bank’s corporate name, the lender’s press service reported. The Moscow Directorate of the Federal Tax Service made a record to this effect in the Unified State Register of Legal Entities.
The new full corporate name of Extrobank is Closed Joint Stock Company Santander Consumer Bank or CJSC Santander Consumer Bank, as its abbreviated name. The bank’s new abbreviated corporate name in English is JSC Santander Consumer Bank.
As the bank’s press service pointed out, this development will not entail any changes in the agreements signed or in the rights and obligations of the bank, its clients and partners arising out of these agreements. According to the data from news agency Banki.ru and Interfax-CEA, Extrobank’s net assets equal Rub 4,318 mln (294th place in Russia). The bank is a member of the national deposit insurance system.
Extrobank was acquired by Santander Consumer Finance, a division of Banco Santander S. A. of Spain, that is engaged in consumer lending. Santander (SAN.MC, STD.N) is the biggest bank in Eurozone in terms of market capitalization and ranks fifth among international banks in terms of profits. Santander was founded in 1857, its assets are equal to €912.91 mln, with €1,063,892 mln under management and its client base equals 65 mln customers. The bank operates in 40 countries via 11,178 branches. This is the largest financial group in Spain and Latin America and is in 6th place in the UK (Abbey is its subsidiary bank) and is also number three among Portugal’s banking groups.
