“The sale does not mean the BM Bank’s demise. It will continue to operate on the Ukrainian market, providing full financial services, and will continue to meet its obligations,” Supervisory Board Chairman Alexander Yashnik said.
The Bank of Moscow, which holds 99.9595% in BM Bank, agreed to sell the subsidiary to Ukraine’s Smart-Holding in February 2013. But the deal will not be closed, media reported in June.
The Bank of Moscow has two more subsidiaries outside Russia, in Belarus and Estonia.