In January 2014, Bank Saint-Petersburg expects to complete the acquisition of 100% in Evropeisky ICB (Kaliningrad), the bank informed.
The transaction is approved by the Bank's Supervisory Board; the Bank of Russia is expected to greenlight it before long.
In November 2013, Bank Saint-Petersburg announced its development strategy 2014-2017 setting a four-year objective of building a viable financial institution based on a scalable business model applicable in the regions where the bank is currently operating or where it intends to expand.
Bank Saint-Petersburg OJSC (tax number: 7831000027) is a universal commercial bank established in 1990 which is focused on supporting the real sector of economy. The bank's authorized capital is RUB 386.03 million. Its Board Chairman Alexander Savelyev owns 28.06% of the bank's shares, the bank's management team 62.84% in aggregate, the stake held by the EBRD is 6.17%.
IFRS net profit of Bank Saint-Petersburg for 2011 grew by 43% to RUB 5.9 billion RAS Net profit of the bank for 2012 fell by 62% to RUB 1.598 billion.
Evropeisky ICB (CJSC) focuses on services to legal entities in Kaliningrad and Kaliningrad region.