News

November 12, 2010

METROPOL has completed a deal with SBI Holdings

In Tokyo, IFC METROPOL and Japanese SBI Holdings Inc. signed a statement on completing the purchase by SBI of 50% in the capital of the United Investment Bank (OBIBANK, a METROPOL Group company).

The statement was signed by head of METROPOL Group of Companies Mikhail Slipenchuk and CEO of SBI Holdings Yoshitaka Kitao.

The purpose of the deal is to implement and develop in Russia advanced internet-banking technologies that proved well in Japan. After completing the deal and receiving approvals and licenses for operation in the Russian market, SBI Holdings will become a co-owner of OBIBANK.

Earlier, on February 1, 2010, the parties signed a Memorandum of Understanding that defined the basic terms of the purchase by SBI Holdings a stake in OBIBANK and further financial activities in Russia with the use of internet-banking services.

Commenting on the signed statement, Head of METROPOL Group of Companies Mikhail Slipenchuk said: "We believe that the deal between METROPOL Group of Companies and SBI Holdings will open a new phase in the development of internet-banking services in Russia.

SBI Sumishin Net Bank, which is part of SBI Holdings created with the participation of Sumitomo Trust Group, has unique breakthrough technologies for providing safe, convenient and, most importantly, reliable internet-banking services. With the help of Japanese experience and technologies, I believe OBIBANK will become a leader in the Russian market of internet-banking services."

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