The board of directors at Sovcombank decided to put on the table before the bank’s shareholders the issue of the bank’s reorganization by taking over two institutions, Modern Commercial Bank and Miria LLC, the lending institution says in a press release.
For the record, in early February 2014 Sovcombank closed the acquisition of GE Money Bank, which was later renamed Modern Commercial Bank. Modern Commercial Bank’s primary shareholder is Sovcombank, which holds a 92.72% interest, and Miria LLC, the stake of which equals 7.28%.
