In January 2007, GAZPROMBANK (Moscow) signed an agreement to buy all of the charter capital of the Magnitogorsk-based CREDIT URAL BANK for $103.4 million. GAZPROMBANK has had no shares of the Magnitogorsk bank before. The Magnitogorsk Iron & Steel Works (MMK) is the bank’s largest corporate client.
Source: BANKI.RU, March 12, 2007
