The Board of Directors of OJSC Seventh Continent approved the sale of OJSC Finservice Bank, the company informed.
OJSC Seventh Continent (tax number: 7705005628) established in 1994 is an international retail trading network. The company manages 156 stores including 19 hypermarkets, 10 of them in Moscow and Moscow region, 9 in Russian regions (Perm, Belgorod, Vologda, Ivanovo, Rostov-on-Don, Nizhny Novgorod, Ryazan, Chelyabinsk and Yaroslavl). The company's stores are: The Seventh Continent - Five Stars, The Seventh Continent - Universam, The Seventh Continent - Next Door, The Seventh Continent - Gastronomy, NASH Hypermarket (OUR Hypermarket).
The company's authorized capital is RUB 37.5 million, 75,000,000 common shares at par value of RUB 0.5. are issued. The largest shareholder of the company (74.8% of shares) is Pakwa Investments Ltd.
According to the information and retrieval system DataCapital, net profit (RAS) of OJSC Seventh Continent for 9 months 2012 was RUB 1.443 billion against a loss of RUB 205.121 million the year before. Revenue increased by 19% to RUB 44.286 billion from RUB 37.273 billion, GP by 22% to RUB 9.952 billion from RUB 8.167 billion. Pre-tax profit was RUB 1.95 billion against a loss of RUB 83.192 million.
OJSC Finservice Bank operating since May 2006 provides financial services to individuals offering them a vast network of satellite offices within the Seventh Continent supermarket chain, and ample self-service opportunities. As of April 1, 2010, the Bank's assets as per RAS totaled RUB 3.091 billion, equity capital amounted to RUB 2.332 billion.