DNB Bank has been renamed B&N Bank Murmansk, the Federal Information Service of Russia reported.
"Now the bank's full corporate name is Joint Stock Company B&N Bank Murmansk. Previously the lending institution's full corporate name was Open Joint Stock Company Commercial Bank DNB Bank," the Federal Information Service's materials run. These changes have not yet been made on the websites of the Central Bank of Russia and DNB Bank.
Last April B&N Bank majority shareholder Mikail Shishkhanov acquired from Norwegian financial group DNB its Russian subsidiary, DNB Bank which operates in the Murmansk region.
The Murmansk-based lender is planned to be folded into B&N Bank in mid-2015. As a result, DNB Bank's five offices in the Murmansk region should turn into units of B&N Bank that previously had no presence in the region. B&N Bank Vice President Pyotr Morsin said last December in Elena Ishcheeva's signature TV program First Persons that DNB Bank would be renamed B&N Bank Murmansk.
