INTERFAX. Shareholders of Bank Zenit decided at a March 25 annual meeting to allocate Rub 900 mln to 2007 dividend payouts or 36% less than in 2006 (Rub 1.4 bln). The lender’s FY07 net profit came to Rub 2,616 mln. The bank’s shareholders decided to transfer the remaining Rub 439.8 mln to the reserve fund and Rub 1,276 mln to the accumulation fund. The bank’s shareholders elected a 15-member board of directors. Virtually all board members retained their seats, but for Anton Bolshakov whose seat was occupied by former rector of Russia’s Academy of National Economy Abel Aganbegyan.
As one of Bank Zenit’s founders, Bolshakov was among those (together with Alexey Sokolov, Igor Avanesyan and Maxim Demin) who invested funds in International PetroChemical Growth Fund (IPCG), a business formed with Tatneft’s involvement. Tatneft owned 45% of the fund and four private investors held equal stakes totaling 50% of the fund.
Bank Zenit’s largest beneficiary owners are Tatneft (24.56%) and International Petro-Chemical Growth Fund Limited (41.81%). Another 14.42% interest is in the hands of a concern affiliated with Vladimir Lisin, NLMK board chairman. As the media wired earlier, Bank Zenit was going to hold an IPO on Russian exchanges and LSE, but the offering was rolled back because of the unfavorable market conditions.
In 2007, Bank Zenit ranked 22nd in terms of assets in the Interfax-100 ranking, prepared by Interfax-CEA.
