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Tuesday, November 20, 2018

NOMOS Bank acquires additional 24.17 percent stake in Discovery

NOMOS Bank has acquired 24.17 percent of Bank Discovery from FK Opening in a deal amounting to $240 million.

The amount was previously purchased from the Corporation Deposit Insurance Agency.

NOMOS increased its direct and indirect ownership of Discovery Bank through the transaction to 41.17 percent.

In August, the owner of 17 percent of Discovery shares became part of NOMOS Erada.

NOMOS Bank Group will now hold a controlling stake in Opening Bank and Khanty-Mansiysk Bank. As part of the NOMOS Banking Group, Discovery Bank will focus on retail and small business banking.

Khanty-Mansiysk, meanwhile, will become a universal bank with a focus on the Khanty-Mansi Autonomous District and the Tyumen region. Khanty-Mansiysk is a strong regional player and traditionally has a significant market share in the regions of Khanty-Mansi and Tyumen.

Opening Bank will also include Petrocommerce Bank that has total assets exceeding $50 billion, making it the largest among Russian private banking groups.