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Report: International Financial Club Bank to possibly get new shareholder

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Report: International Financial Club Bank to possibly get new shareholder

Tatiana Orlova, recently appointed first deputy chair of the management board at Russia-based JSC JSCB International Financial Club, plans to acquire a stake worth 2 billion rubles in the lender, Kommersant reported Jan. 21, citing market sources.

International Financial Club Bank and Orlova herself did not comment on the potential transaction. Russia's Federal Antimonopoly Service approved in December 2019 a purchase of a 35.84% stake in the lender by an individual, whose name was not disclosed, Kommersant noted.

International Financial Club Bank is currently controlled by Russian businessman Mikhail Prokhorov, who owns 83.6% of the lender directly and additional 9.8% via Cyprus-based Onexim Holdings Ltd.

Orlova, who is the daughter of deceased Vozrozhdenie Bank founder Dmitry Orlov, also intends to divest her roughly 10% stake in PJSC Transkapitalbank, Kommersant said. The shares could be purchased by Russian businessman Yuri Berezovsky, whose companies already own Transkapitalbank shares.

As of Jan. 20, US$1 was equivalent to 61.63 Russian rubles.