KOMMERSANT. Otkritie Financial Corporation is to reorganize four its banks into two, a retail bank (based on Bank of Khanty-Mansiysk and Bank Otkritie) and a corporate one (on the basis of Nomos-Bank and Petrocommerce). Nomos-Bank CEO Dmitry Romaev told Kommersant about restructuring details.
According to him, the group’s retail business would expand on the basis of Bank of Khanty-Mansiysk and Bank Otkritie. The group has so far lacked such bank. It will be established until the end of 2014 by folding Bank Otkritie into Bank of Khanty-Mansiysk. It will be led by Bank Otkritie current chief executive Evgeny Dankevich (as a deputy management board chairman) and Bank of Khanty-Mansiysk’s current president and management board chairman (as the president and board chairman).
Bank of Khanty-Mansiysk’s corporate clients will be transferred to the group’s corporate investment division. It will be forged on the basis of Bank of Khanty-Mansiysk by folding Petrocommerce, which the financial corporation recently acquired into this bank within 2014—2015. Petrocommerce’s retail assets would consequently go to Bank of Khanty-Mansiysk — Bank Otkritie, Romaev specified. In addition, as early as June 2014 Nomos-Bank will be renamed Otkritie Financial Corporation. Dmitry Romaev will take charge of the merged corporate bank.
The financial corporation keeps restructuring costs undisclosed, just noting they will be not high and that the corporation is well experienced in integration banks with various outreach. No staff cuts are planned, the corporation assured. The initial restructuring plan for the corporation’s banking group implied taking under one roof Nomos-Bank, Bank of Khanty-Mansiysk and Bank Otkritie that would create the largest private bank in Russia. However, last April these plans were abandoned, Kommersant wrote.
