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Modulbank changes ownership structure

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Modulbank changes ownership structure

AndreiPetrov, Oleg Laguta and Yakov Novikov became shareholders of , eachtaking a 7.5% stake in the lender, reported Sept. 29.

ArtemAvetisyan, owner of CommercialBank Uniastrum (LLC), remains the largest shareholder of Modulbank,but his stake fell to 34.61%.

Petrov,Laguta and Novikov founded the online lender. Petrov is chairman of themanagement board and sits on the board of directors, noted.

Novikovreportedly said that the new ownership structure had been agreed with investorsbefore Modulbank was launched while also noting that there are no plans forfurther shareholding changes in the near future.