Gusel­nikov sep­a­rates Rus­sian Vjatka Bank from Norvik; puts it un­der his fam­ily’s con­trol

Baltic News Network - - News -

Rus­sian busi­ness­man Grig­ory Gusel­nikov and his fam­ily have ac­quired di­rect con­trol over Vjatka Bank with­out me­di­a­tion from Lat­vian Norvik Bank, as stated in Vjatka Bank’s an­nounce­ment.

Gusel­nikov is also Norvik Bank’s largest share­holder.

«Grig­ory Gusel­nikov and Norvik Bank have re­al­ized a trans­ac­tion with Vjatka Bank shares. As a re­sult of this trans­ac­tion, Vjatka Bank is no longer a sub­sidiary of Lat­vian Norvik Bank. As a re­sult of this trans­ac­tion, Gusel­nikov and his fam­ily have ac­quired di­rect con­trol over Vjatka Bank with­out Norvik Bank’s me­di­a­tion,» as noted in the bank’s an­nounce­ment.

Vjatka Bank’s gov­er­nor Sergei Tu­valkin ex­plains this trans­ac­tion was planned a long time ago.

«We had re­ceived ap­proval from the cen­tral bank last year. We have been pre­par­ing for this deal ever since. We are no longer part of Norvik Group. I can say we were bough. Only no one can re­ally say by who. Old share­hold­ers re­turned to us. They have al­ways cared about our bank’s wel­fare, putting the in­ter­ests and rights of our de­pos­i­tors ahead of ev­ery­thing else. We have com­pletely sep­a­rated Vjatka Bank from the Lat­vian bank. The two banks were not as­so­ci­ated with one an­other with any fi­nan­cial op­er­a­tions. Now they are no longer linked with cor­po­rate and share­holder cap­i­tal,» Tu­valkin said.

The an­nounce­ment men­tions that from now on Vjatka Bank, whose main of­fice is lo­cated in Kirov, will work in­de­pen­dently, ‘re­gard­less of re­al­i­ties of Euro­pean banks’. «This is as­so­ci­ated with the para­dox sit­u­a­tion when we, a Rus­sian bank, were not able to buy Sber­bank bonds and work with mil­i­tary in­dus­trial com­plex busi­nesses. Now Vjatka Bank is an in­de­pen­dent or­ga­ni­za­tion,» the bank re­ports. As­set-wise ABLV Bank was the third largest bank in Latvia in Septem­ber 2017.

Edijs Pālens/LETA

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