VTB ups stake in Bank of Moscow to 94.84%
MOSCOW. Dec 29 (Interfax) - Following a Bank of Moscow additional share issue the VTB Debt Center stake dropped from 92.22% to 61.08%, while VTB Pension Administrator gained a 33.76% stake, the bank said in a press release.
The VTB Group has thus increased its stake from 92.22% to 94.84%.
The Capital Insurance Group stake has dropped from 2.28% to 1.51% and the Plenium Invest Ltd., stake dropped from 4.51% to 2.99%, Bank of Moscow said.
According to unofficial information, Plenium Invest Ltd., is controlled by former Bank of Moscow chairman Andrei Borodin.
The VTB Group owns 25% plus one share in Capital Insurance Group, which means the group controls over 95% of Bank of Moscow.
Bank of Moscow reported the results of its additional share issue on Wednesday, December 28. The bank placed 102 billion rubles worth of shares through private subscription for VTB Pension Administrator.
The Central Bank of Russia registered the issue on Thursday, Bank of Moscow said.
Bank of Moscow is currently undergoing financial rehabilitation. The bank received a 294.8 billion ruble loan for 10 years from the Deposit Insurance Agency at the end of September.
Bank of Moscow was ranked sixth for asset value in the Interfax-100 review of Russia's banks in the third quarter of 2011. VTB was ranked second.
