Tuesday, June 19, 2018

Otkritie Financial Corp. to restructure banking business

Otkritie Financial Corp. announced recently it would restructure its banking business to focus business development around Otkritie Bank, NOMOS Bank and Khanty-Mansiysk Bank.

The bank will consolidate its balance sheets with NOMOS, which will hold controlling stakes in both Otkritie Bank and Khanty-Mansiysk. Otkritie plans to consolidate a controlling stake in NOMOS by fall.

"This structure is the most efficient in terms of maintaining the group members' current profitability, as it enables maximum usage of each bank's advantages and makes it possible to focus on key client segments," Otkritie Financial CEO Ruben Aganbegyan said.

Following the banks' consolidation, NOMOS will service corporate customers, while Otkritie Bank will continue to service retail customers. Khanty-Mansiysk Bank will remain a full-service bank operating in the Khanty-Mansi Autonomous Area and Tyumen region.