FAS approved the accession of the Bank “Uniastrum” to “East”

The Federal Antimonopoly service approved the accession of the Bank “Uniastrum” to “East”, is spoken in the message of FAS. During joining the company BoC Russia (Holdings) Ltd., which owns the Bank “Uniastrum”, will have the right to dispose of 40,01% shares of the Bank “East”, the report said.

In June Uniastrum” bought half of the additional issue of “Eastern” with a volume of RUB 3 bn., having received 24.9% of the Bank’s capital.

June 20, “Interfax” citing a source in the financial-economic bloc of the government reported that the main owner of Uniastrum Bank and the Director of the direction “New business” Agency of strategic initiatives Artem Avetisyan is going to create on the basis of four banks, Uniastrum Bank “Orient Express”, Credit Europe Bank and state Bank SME Bank’s reference framework for small and medium enterprises (SMEs).

As reported “Interfax” a source in the financial-economic bloc of the government, a letter proposing the creation of a reference Bank for SMEs Avetisyan last week sent President Vladimir Putin, and the letter was imposed positive resolution.

As said a source familiar with the text of the letter, Avetisyan painted his plan to merge banks. First, the “Uniastrum” and “Eastern”, then they will be attached “Credit Europe” and then — SME Bank, if possible, an amalgamation of three banks and the government as its owner agrees to the deal. SME Bank recently switched from Vnesheconombank to the SME Corporation, headed by Alexander Braverman. Artem Avetisyan since 2012 is a member of the Supervisory Board of SME Bank. “In the letter, Avetisyan stressed that it was not asking for their projects to financial support from the state,” said the source familiar with the text of the letter. According to him, President Putin has approved plans Avetisyan, writing “I agree”.

If the project is implemented Avetisyan, the assets of the combined Bank will be about 600 billion rubles, with the result that the merged Bank will enter the top 20 by assets.