Expobank LLC has negotiated it with the shareholders of Kurskprоmbank Public Joint Stock Company to acquire the controlling stake in Kurskprоmbank PJSC. The deal was completed on 30 April after it was approved by the Bank of Russia.
As Fedor Khandurin, CEO of Kurskprоmbank, pointed out: ‘We have selected a qualified and professional banking partner that will strengthen our market position. We have agreed with the Management of Expobank to maintain Kurskprombank’s current business model. Our bank is a profit making reliable institution and holds leading positions in a number of areas across the region where it operates. Our primary focus is on the implementation of new banking products and enhancement of the technology platform.’
CEO of Expobank Alexey Sannikov says: ‘Historically, Kursprombank has had a stable client base and high resilience to market fluctuations. The bank has been operating in the market for 29 years and is the biggest bank in Russia’s Black Earth region in assets. We are sure that our synergy will enable us to achieve high results and provide clients with qualitative and convenient service.’
Kurskprombank PJSC is a regional bank operating in the Kursk, Voronezh and Orel regions. Apart from its Head Office, there are 33 units across the entire territory of the bank’s presence including supplementary operational offices and POS loan desks, as well as operational cash desks. The bank has its own processing center and a network of ATMs and payment terminals comprised of over 200 machines. The company focuses on corporate lending and banking including relationships with small and medium enterprises.
As of 01 April 2019, the bank had assets of RUB 24.4 billion, equity (form 123) of RUB 4.4 billion, and the loan book of RUB 20.5 billion.