RIA NOVOSTI. A new lender, which is under establishment by Vladimir Frolov, former head and owner of Severnaya Kazna (the biggest bank in the Urals region which is currently rehabilitated by Alfa-Bank), will be called InBank and will launch operations on February 1, 2010, a source close to the new banking project told RIA Novosti.

Frolov mentioned plans to set up a new product back in April 2009. At that time he planned to establish a new bank in Ekaterinburg in September-October 2009 and chair the bank’s board. Later on Nomos-Bank, which is to acquire 75% of the new lender’s securities, said it is going to take part in the project as an investor. The project will be executed based on Bank Uran, which the partners will buy. Earlier Frolov said Nomos-Bank, the major shareholder, invented a name for the bank. “It was decided to call the project as InBank. Initial letters of the bank’s name immediately refers the consumer to the meaning of “Internet”, since the new structure will operate just like an online bank," the news agency’s respondent said.

Frolov himself neither confirmed nor denied information about the bank’s name. “By February 1, 2010 we would like to finish the bank’s operations in a pilot regime and enter the market under the new brand. Currently clients deal with Bank Uran on a pilot basis, Frolov told RIA Novosti.

According to him, the new project’s logo, web site and interface have been worked out and the purchase of a domain name is under way.