Moscomprivatbank, 100% of which was purchased by Russian businessman Mikail Shishkhanov on April 2, 2014, was renamed B&N Bank Credit Cards. Relevant amendments were made to the lending institution’s charter and approved by the Bank of Russia, B&N Bank’s press service reported.
For the record, Mikail Shishkhanov acquired Moscomprivatbank, the former Ukrainian subsidiary of Ukraine-based PrivatBank, as part of rehabilitation for around Rub 6 bln using subordinated debt. The transaction was wrapped up in April. The B&N Bank owner claimed at that time that Moscomprivatbank would operate as a standalone legal entity, but under another brand.
The media previously reported that the rebranding of B&N Bank Credit Cards would be accomplished in 2015, but the lending institution’s press service specified that the process could be wrapped up this year.
