Finprombank’s shareholders have bought stakes in IMoneyBank. The new owners purchased their holdings from Expo Capital and other beneficiaries, the parties said in a joint press release.
For the record, Expo Capital, the beneficial owners are currently renowned Russian banker Igor Kim (78.25%) and German Tsoi (19.75%), gained 54.75% of IMoneyBank in December 2013 after buying some of its additional shares. At that time IMoneyBank reported that in the course of time Expo Capital would reduce its stake to non-controlling by taking onboard new participants.
“Finprombank shareholders are interested in rolling out retail business. It was decided to invest in IMoneyBank which operates an attractive business model and has required professional competence," the press release quoted Finprombank management board chairman Stanislav Perminov as noting.
The press release does not disclose IMoneyBank’s new shareholding, nor does it specify which Finprombank shareholders became the bank’s owners. IMoneyBank’s website and its webpage on the Bank of Russia’s website (according to the information as of January 2014) show that the bank’s largest participant is still Expo Capital with a 54.75% interest, while considerable stakes are held by IMoneyBank board chairman Sergei Vostrikov (14.54%) and Alexander Kashapov (13.45%), small stakes are in the hands of Vladimir Mashkarin (6.1%), Sergei Ryazanov (4.47%), Vladimir Belov (2.37%), Elina Veldyaeva (2.13%) and Yana Fedorova (2.09%).
Meanwhile, some conclusions can be drawn on the basis of changes in IMoneyBank’s board of directors. In line with the information disclosed, at an extraordinary meeting of the bank’s participants on Friday it was decided to prematurely terminate the authority of board members Dmitry Akimkin, Ernst Bekker, Yury Vavilov, Igor Kim and Inna Shashkova. Andrei Bogdanov, Anatoly Goncharov, Evgeny Lyubimov, Sergei Radchenkov and Vladislav Khlystov were appointed instead of them to the company where Sergei Vostrikov and Alexander Kashapov retained their positions.
Notably, Anatoly Goncharov and Vladislav Khlystov are Finprombank’s beneficial owners (19.99% and 1.73%, respectively). So, it is them who presumably became new owners of IMoneyBank. Expo Capital, given the pullout of its key owner Igor Kim from IMoneyBank, could have cut its interest substantially.
To remind, large equity positions in Finprombank are held by Petr Kondrashov (around 19.99%), management board chairman Stanislav Perminov (19.98%), Andrei Belkin (19.97%) and Dmitry Semenov (roughly 18.22%).
