An extraordinary shareholders meeting held by the shareholders of Bank Nizhny Novgorod (Nizhny Novgorod) on March 16, 2009 adopted a decision on the company’s entry into banking group Promsvyazbank, the latter’s press service reported.
Taking another new participant on board is another step of Promsvyazbank’s strategy aimed at taking over a number of regional lending institutions. This group also comprises Volgoprombank (Volgograd) and Yarsotsbank (Yaroslavl).
Bank Nizhny Novgorod shareholders elected a new board. Igor Smelyansky, director for asset integration at Promsvyazbank, was appointed chairman of the board at a first meeting that took place on March 17, 2009.
According to the data from Banki.ru and news agency Interfax-CEA, as of January 1, 2009 net assets of City Bank Nizhny Novgorod stood at Rub 4.5 bln (296th place in Russia). The lending institution is a member of the national deposit insurance system.
