The press service at Orient Express Bank (Blagoveshchensk) said at the April 5 EGM the bank’s shareholders gave the green light to the reorganization action through the takeover of Moscow-based Etalonbank. The merged lending institution will continue operations under the brand of Orient Express Bank. Furthermore, the lender’s charter capital will be upsized from Rub 448 mln to Rub 535.6 mln.
According to the data from Banki.ru and news agency Interfax-CEA, as of January 1, 2009 net assets of Orient Express Bank totaled Rub 32.68 bln (80th place in Russia) and those of Etalonbank equaled Rub 12.8 bln (156th). Both lending institutions are members of the national deposit insurance system.
