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M&A: Bank of Moscow increases equity stake in Trading House GUM to 5.001%

OJSC Bank of Moscow increased its equity position in OJSC Trading House GUM to 5.001% from 1.947%, the bank informed.

The Bank of Moscow (tax number: 7702000406) established in 1995 is among 30 major Russian banks. Its authorized capital is RUB 27.175 billion. As of December 1, 2012, 155 banking units operated in different regions of Russia. In Moscow, the bank operates 130 offices. The bank's global network includes 4 subsidiary banks outside of Russia: BM Bank (Ukraine), Bank Moscow-Minsk (Belarus), Eesti Krediidipank (Estonia), and Bank of Moscow-(Belgrade) (Belgrade, Republic of Serbia). VTB Bank increased its share in the Bank of Moscow to 95.5%.

Net profit (IFRS) of the Bank of Moscow for 2011 was RUB 24.6 billion against a loss of RUB 69.7 billion for 2010. IFRS net profit of the BoM Group for H1 2012 was RUB 10.1 billion against a profit of RUB 348.823 million for the same period in 2011.

Net profit (RAS) of the Bank of Moscow for 2012 increased by 45% year-on-year to RUB 8.215 billion.

"AK&M", 01.08.2013


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