31 May 2010 17:05

Orient Express could merge with Rostov bank

VLADIVOSTOK. May 31 (Interfax) - Orient Express Bank, based in Russia's Far Eastern Amur region, could merge with Rostovpromstroibank, from Rostov in southern Russia, Orient Express said in a statement.

Shareholders will vote on the merger at an EGM on June 6.

Rostovpromstroibank's shareholders include Igor Kim (51.63% issued shares/51.50% ordinary shares), who is the former co-owner of URSA Bank ; and the International Finance Corporation (IFC) (19.89%/20%).

Kim also owns 1.38% of Orient Express direct and 17.42% via Antof N.V.

Orient Express merged with Perm-based Kamabank early May.

Orient Express was Russia's 56th largest bank by assets, according to the Interfax-100 ranking at the end of Q1 2010. Rostovpromstroibank was ranked 318.