Wednesday, May 23, 2018

Otkritie to unify Nomos, Discovery under single brand platform

Otkritie, the umbrella group which controls the formerly independent Nomos, Discovery and Otkritie banks, announced last week that it will be integrating all of the banks into one unified brand platform.

Otkritie will be renamed Discovery Holding, while Nomos Bank will take the name Otkritie Financial Corp. The Discovery Bank brand name, however, will remain unchanged.

Later this year, Otkritie will be renamed Nomos Bank and will merge its corporate and investment banking operations to Petrocommerce Bank, which will be controlled by Nomos Bank's executive management.

Otkritie Bank will take the title Otkritie Capital International until the middle of June, after which it will be referred to as Otkritie Capital.

In the retail banking sector, Discovery Bank will merge with the Bank of Khanty-Mansiysk in mid-2014, after which it will be called BKM Discovery. Current Bank of Khanty-Mansiysk President and CEO Dmitry Mizgulin will serve as BKM Discovery's president and chairman of its board of directors.