The lender’s names (Open Joint Stock Company «Industrial Commercial Avtovazbank» and OJSC Avtovazbank) were changed to Open Joint Stock Company Avtovazbank and OJSC Bank AVB, the lending institution’s press service reported.
On August 15, 2008 the Bank of Russia issued a general banking license with the indication of the lending institution’s new corporate name. The press office pointed out that the date when the bank is to begin operations under the new name will be disclosed additionally.
According to the data from news agency Banki.ru and Interfax-CEA, as of July 1, 2008 net assets of Avtovazbank equaled Rub 15.46 bln (133rdth place in Russia). The lending institution is a member of the national deposit insurance system.
