PRIME-TASS. Otkritie Financial Corporation plans to maintain Nomos-Bank’s stock listing as part of the requirements imposed in jurisdictions where the lender’s securities are listed, an integration scheme of the group’s banks will undergo changes, while Nomos-Bank’s brand itself will vanish, Otkritie Financial Corporation management board member Alexei Karakhan told Prime-TASS.
“Nomos-Bank will become part of Otkritie Financial Corporation and will hold a controlling interest in Bank Otkritie, and also in Bank of Khanty-Mansiysk. We plan to retain Nomos-Bank’s listing as part of the regulatory requirements imposed in the jurisdictions where they are listed," he pointed out.
Karakhan noted that Nomos-Bank’s brand will ultimately disappear from the market. The corporation is working on the banking group’s new brand strategy. As for an IPO, which the financial corporation planned to hold in the next two or three years, Otkritie Financial Corporation is not making any preparations at the moment.
Initially, the corporation, which is gathering 100% of Nomos-Bank shares, planned to take activities carried out by the group’s banks under one roof. For this reason analysts forecast Nomos-Bank, which went public on the London Stock Exchange in 2011, to delist.
“Nomos-Bank’s activities will focus on corporate clients, Bank Otkritie is to target households and Bank of Khanty-Mansiysk is to concentrate its efforts in the coverage area," Karakhan said.
