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