Expobank and Stromcombank took a decision to consolidate their assets and plan to get this done in January — March 2013 after required approvals from the regulator, the parties reported on Monday.
As the banks specified, after being folded into Expobank Stromcombank will continue operations as the bank’s branch in the Krasnoyarsk region and will retain its customer-oriented business model. “No material changes in the bank’s business model, operating and financing activities are expected," the banks stressed in a press release.
“The consolidation project aims to form new opportunities for Stromcombank’s clients and broaden the lineup of products. As for Expobank, this is the chance to enter a new region," Expobank management board chairman Kirill Nifontov specified.
