Rus News Journal

PV - the bank will pass under control of investors from Great Britain and Switzerland

Ulyanovsk PV - the bank passes under management of foreign investors, has informed the edition a source familiar with a course of sale of bank. The former owner, Igor Provkin, according to the source, has decided to leave bank business.

In the end of April bank management informed that with large European investors negotiations are carried on for acquisition of bank and possible merge to other bank.

According to the source, familiar with a situation in bank, the transaction is at a final stage, representatives of foreign shareholders have already visited head office PV - bank in Ulyanovsk and take part in an operational administration bank.

In PV - bank have confirmed the fact of its sale to foreign shareholders, the transaction will come to the end by the end of month, however from more concrete information before transaction announcement have refrained.

However the source in the bank circles, familiar with terms of transaction, has declared that the investors who have come in PV - the bank, from Great Britain and Switzerland - is a question of group of the private persons which basic field of activity are investments.

One of new shareholders, the banker informs, is the professional investor in area aircraft engineering and already has interests in the Russian aviation industry. For this reason has been chosen PV - bank with head office in Ulyanovsk - the Russian aviation capital. Other shareholder has interests in the Samara companies connected with oil refining. As he said, the given group of investors has also wide interests in the West - in their portfolio the companies which are engaged in working out of natural resources in Canada, bank business in Greece and in Cyprus, they own share holdings of the European banks, invest in the wind power companies and hotel business in Italy, and also have a number of investments into the technological companies on service of oil corporations in Asia.

At new shareholders PV - bank long-term plans in Russia. According to the banker, they intend to increase the capital of bank to 1 mlrd rbl. at the first stage, to be put in development of retail products, to expand services for corporate clients. The total amount of investments into bank development can reach 100 million dollars According to the banker, after the Central Bank transaction can remove the claims which have arisen to PV - to bank from - for the former owner.

it is quite possible that PV - bank only the first acquisition of investors. It will be followed some more by purchases of small banks on which base the universal big bank with a wide geographical covering will be created, believes a source in bank circles.