Exi-Bank acquires 44.6% of Bank Orange to become sole owner

MOSCOW. July 29 (Interfax) - Exi-Bank has acquired another 44.6% in St. Petersburg-based Bank Orange to become the sole owner, according to data in the Unified State Registry of Legal Entities (USRLE).

Exi-Bank now owns the stake previously controlled by Mirny closed-end mutual fund, which is managed by Reliable Management asset management company.

Exi-Bank on July 25 assumed ownership of Terra LLC that owns 55.4% of Bank Orange.

Exi-Bank (Export-Import Bank) serves both individuals and corporate clients and operates an additional branch in St. Petersburg. The bank's owners have not been disclosed.

Dmitry Grigorovich was appointed the bank's CEO in June 2023. His namesake previously headed the northwestern branch of MTS Bank in St. Petersburg as of 2011.

Exi-Bank acquired a 40% stake in the E-Finance microfinance company in late 2024, with MTS Fintech LLC, part of the MTS ecosystem, owning the remaining 60%.

Exi-Bank boosted net profit to Russian Accounting Standards (RAS) to 546.5 million rubles in 2024 from 28.1 million rubles the previous year earlier. Bank Orange swung to net profit of 99 million rubles in 2024 from a net loss of 143.6 million rubles in 2023.

Exi-Bank ranked 201st in terms of assets as of Q1 2025 in the Interfax-100 ranking prepared by the Interfax Center for Economic Analysis, while Bank Orange ranked 255th and MTS Bank ranked 21st.