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EBRD acquires blocking stake in SKB-Bank for over 900 million roubles
Investment to help small business, retail lending and access to capital markets
The European bank for Reconstruction and Development is acquiring a stake of
over 25 percent in SKB-Bank, one of the largest in the Urals, as part of its
long-standing support for Russian regional banks.
The investment, amounting to 902,441,681.11 Roubles (equivalent to over €25
million), will also support SKB-Bank’s expansion in the Urals as well help it
to enhance its position in retail lending and financing small businesses.
“We are very pleased to become shareholders of SKB-Bank, a fast-growing and
dynamic bank with a transparent ownership structure, a well-defined strategy
and a commitment to best practice corporate governance,” said Kurt Geiger,
EBRD Business Group Director, Financial Institutions.
“One of the benefits that EBRD participation in the capital of Russian
regional banks traditionally brings is to raise their profile and facilitate
their access to local and especially international capital markets,” Mr.
Geiger added.
SKB-Bank is controlled by Dmitry Pumpyanskiy, majority owner of Russia’s
leading metal pipes producer, TMK.
The EBRD will be represented on the SKB-Bank’s board of directors.
A €250,000 grant to be advanced under a programme financed by the EU
Commission to promote institution-building in Russian regional banks will
assist SKB-Bank enhance lending practices and strengthen risk management
procedures with respect both to corporate and retail lending.
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