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National Reserve Bank gets new majority shareholder

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National Reserve Bank gets new majority shareholder

Russia-based PJSC State Transport Leasing Co. acquired a 76.27% stake in JSCB National Reserve Bank (JSC).

The leasing company did not provide further details in its Dec. 6 filing and did not disclose the name of the seller.

Prior to the transaction, National Reserve Bank was controlled by Russian businessman Alexander Lebedev, who held an almost 80% stake in the lender, RBC said in a Dec. 7 report.

Lebedev's representative told the newswire that the businessman decided to exit the banking business to avoid "reputational dissonance" in connection with his long-term involvement in investigating "corruption and theft in the financial sector."

Lebedev now intends to focus on socially important startups, media and journalism projects, including the launch of the Russian version of The Independent, as well as public projects, including the creation of an international system to counter money laundering and return illegally withdrawn capital back to Russia, the businessman's representative was cited as saying.