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Russian businessman Rotenberg ups direct stake in SMP Bank to almost 50%

Stroygazmontazh, an infrastructure construction company controlled by Russian businessman Arkady Rotenberg, transferred its entire stake in JSC Bank Severny Morskoy Put to Rotenberg himself, news agency RBK reported Sept. 7.

The businessman's holding in the lender increased from 23.48% to 49.99% following the transaction, the news report noted, citing a regulatory filing. Rotenberg, the bank and Stroygazmontazh are under Western sanctions imposed following the 2014 annexation of the Crimean peninsula from Ukraine by Russia.