Hellenic Bank: Clarifications on the set up of a subsidiary bank in Russia
13/8/2008 9:38
Subject: HB Group expands in Russia- Briefing for work progress in Russia
In reference to previous announcements concerning the activities for the opening of a subsidiary bank in Moscow, Hellenic Bank Public Company Ltd (Hellenic Bank) announces the following:
• An agreement has been signed for the purchase of building facilities on 21, Rozhdestvensky Boulevard, 107045 Moscow, where the Head office and the first HB shop in Russia will be housed. The purchase is realized with the acquisition by a HB subsidiary in Cyprus of 100% of the capital of a Russian company which owns the buildings, for the total cost of 477 m. Rubles (approximately €13 m.).
• The process for the acquisition of bank works permission is at the final stage, with the submission of application to the Russian Central Bank on 31.7..2008.
• An agreement has been signed with a banking systems supplying company, for the purchase and installation of the banking system that will be installed in Russia and the system’s parameterization works have already started.
• Mr. Giannis Telonis has been named as General Manager. Mr. Teloni’s nomination is under approval by Russia’s Central Bank.
In reference to previous announcements concerning the activities for the opening of a subsidiary bank in Moscow, Hellenic Bank Public Company Ltd (Hellenic Bank) announces the following:
• An agreement has been signed for the purchase of building facilities on 21, Rozhdestvensky Boulevard, 107045 Moscow, where the Head office and the first HB shop in Russia will be housed. The purchase is realized with the acquisition by a HB subsidiary in Cyprus of 100% of the capital of a Russian company which owns the buildings, for the total cost of 477 m. Rubles (approximately €13 m.).
• The process for the acquisition of bank works permission is at the final stage, with the submission of application to the Russian Central Bank on 31.7..2008.
• An agreement has been signed with a banking systems supplying company, for the purchase and installation of the banking system that will be installed in Russia and the system’s parameterization works have already started.
• Mr. Giannis Telonis has been named as General Manager. Mr. Teloni’s nomination is under approval by Russia’s Central Bank.
