RIA NOVOSTI. At Fridays EGM Bank Rossiya shareholders will decide on the takeover of Gazenergoprombank, which is controlled by Gazprom Group, RIA Novosti reported.
The Federal Anti-Trust Service (FAS) satisfied in early March an application seeking to fold Gazenergoprombank into Bank Rossiya.
Bank Rossiyas BoD decided to hold an extraordinary shareholders meeting in late March. Apart from the banks reorganization through the takeover of Gazenergoprombank and the approval of a respective agreement, and also substantiation for the conditions and procedure of the reorganization, the EGM agenda includes issues as to make amendments and additions to the lenders charter, the procedure for notifying creditors of the de adopted and to upsize the banks charter capital. Businessman Yury Kovalchuk is considered to be Bank Rossiyas controlling shareholder.
For the record, in late March international rating agency Moodys assigned Bank Rossiya with a long-term rating of B2 with a stable outlook, the short-term rating of Not Prime and also the bank financial strength rating of Е+.
In December of 2009 international rating agency Fitch Ratings affirmed Bank Rossiyas long-term issuer default rating (IDR) at B-, the short-term IDR at B, the individual rating of D/E, the support rating (5) and the national long-term rating of BB-(rus). The outlook for the long-term IDR and the national long-term rating is stable.
Gazenergoprombank was incorporated in 1996 by Gazprom Group companies that command over 98% of the banks securities. The lenders shareholders are Mezhregiongaz, Gazpromregiongaz, Belregiongaz, Voronezhregiongaz and a number of other gas concerns. Gazenergoprombank has 15 registered branches. As of February 1, 2010 the banks charter capital was equal to Rub 6.8 bln, private deposits totaled Rub 15.5 bln and credits amounted to Rub 82.2 bln. Both banks are members of the national deposit insurance system.