Otkritie Holding has completed its acquisition of a 99.5% stake in Petrocommerce Bank from IFD Kapital Group. "It's an important pre-planned stage in the process of integrating Petrocommerce Bank into Otkritie's banking business, - said Ruben Aganbegyan, Otkritie Holding's CEO. - The next step is the merger of Petrocommerce Bank into Otkritie FC Bank that is to take place in 2015".

Following the merger, a network of branches (including one in Moscow) will be created on the basis of Petrocommerce Bank to focus on servicing LUKOIL and its employees.

The acquisition of Petrocommerce Bank has been carried out as part of the strategic partnership between IFD Kapital Group and Otkritie. In 2014, IFG Kapital Group became Otkritie Holding's shareholder by purchasing a 19.9% stake in the company as part of a follow-on offering.

"We highly value the potential of this project, - underlined Olga Plaksina, Chairperson of the Management Board of IFD Kapital. - The acquisition of Petrocommerce Bank strengthens Otkritie's profile as the largest privately-owned banking business in Russia and creates new prospects for its development as well as opens up new opportunities for its customers, including for LUKOIL Group companies and their employees."

About Otkritie Financial Group

Otkritie is a full-service financial group offering its private, corporate and institutional clients access to a broad range of bank, investment and insurance solutions.

The group's total assets exceed RUB 4 trillion. The banking group ranks 1st among Russian largest privately-owned banks and 4th among Russian banking groups by assets.

The banking group consists of Otkritie FC, KhMB Otkritie, and Bank Petrocommerce, which is to be integrated into the group by the end of 2015. Trust Bank will also become part of the group upon its financial rehabilitation.

The banking group's united network has about 700 offices of various kind and 4,000 ATMs in 60 key economic hubs of Russia. Otkritie's client base comprises 4 million individuals and 186,000 corporate customers serviced by over 22,000 employees.


About IFD Kapital Group

IFD Kapital Group was established in 2003 and has developed into one of the largest diversified holdings. IFD Kapital is an integrated private investment fund making investments into different economic sectors. Today, the Group's investments are constituted by oil and gas, finance, construction, chemical industry, sport, hotel business, mass media, and high technologies.

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