ALROSA Sells Stake in MAK-Bank to Concentrate on Diamonds
March 02, 15
(IDEX Online News) – Russian mining company ALROSA has sold its 84.66 percent stake in LLC MAK-Bank to Expobank. The sale is part of the company’s push to sell its non-core assets, allowing it to focus exclusively on diamond mining.
MAK-Bank provides services not only for the companies but also for a variety of individual clients including employees of ALROSA and residents of Yakutia. For this reason, said ALROSA vice president Sergey Pushkin, one of the main priorities for ALROSA during the sale of the banking business was to preserve interests of the clients and to protect them against funds losses.
“We also welcome the intention of Expobank to provide smooth operation and service for the clients of MAK-Bank in Russia, including the offices in the Republic of Sakha,” he added.
MAK-Bank, which has been operational since 1990, has 10 offices in Russia, five of which are situated in Republic of Sakha (Yakutia).
Expobank has 17 offices in Moscow, Saint-Petersburg, Novosibirsk, Kemerovo, Yekaterinburg, Perm, Krasnoyarsk and Surgut.