INTERFAX. Former president, executive board chairman at Investsberbank (now OTP Bank) Pavel Boiko together with his three partners (individuals) purchased a 75.17% stake in Kubanbank (Krasnodar). As Kubanbank said in a press release, the lender’s three new shareholders — Pavel Boiko, Edward Dubinsky and Michael Tearney — now hold some 21% of the stocks each, and Roman Dusenko bought slightly more than 12%.
Until last May Boiko held the position of Investsberbank’s executive board chairman. He worked for the bank for 13 years and was the bank’s general director over the past four years. In October 2006 a 90% stake in the bank was snapped up by Hungarian banking group OTP and in six months Boiko left the company. Last summer news agencies wired that Boiko reached agreements with foreign investors over the establishment of a retail bank to specialize only in mortgage lending. The plan was to open the bank’s first retail office this autumn. Boiko was reported to be holding negotiations with several regional banks (members of the national deposit insurance system) over the purchase of one of them.
Kubanbank was registered in October 1990 and its core shareholders were four individuals and Centurion that had sold their stakes to date. In Q108, Kubanbank ranked 937th (Rub 161 mln after a 25% slide in Q108) in terms of assets in the Interfax-100 ranking, prepared by Interfax-CEA. The lending institution’s charter capital equals Rub 80 mln and equity stands at Rub 87 mln. The bank is a member of the national deposit insurance system. Kubanbank’s private deposits sank 40% to Rub 24.5 mln in Q108.
