RIA NOVOSTI. Zetilia Overseas Ltd, registered on the British Virgin Islands, acquired more than 13.5% of City Bank Nizhny Novgorod, the lending institution said in official documents. In line with a press release, the transaction was executed on December 25, 2008. Earlier the company owned no securities of the bank. Information about changes in the shareholding structure reached the lending institution on January 13.
As reported earlier, on December 30, 2008 Moscow-based Promsvyazbank, a Top 30 bank in Russia, purchased an 85.1% interest in Bank Nizhny Novgorod as part of an agreement signed with the Deposit Insurance Agency (DIA) to rehabilitate the Nizhny Novgorod-based bank.
Bank Nizhny Novgorod is a third largest lender in the region and its assets account for 1.3% of those held by Promsvyazbank. The regional bank operates 12 offices in the Nizhny Novgorod region. The lending institution’s charter capital is equal to Rub 622.16 mln and is divided in 353.5 mln common shares with Rub 1.76 par value each.
On December 30, 2008 Bank Nizhny Novgorod’s BoD decided to call an extraordinary shareholders meeting that will take place on March 16, 2009. The EGM agenda includes the following issues: to authorize a new edition of the lending institution’s charter, determine the number of board members, prematurely terminate the powers and authority of board members and elect a new board.
