Support The Moscow Times!

Yusufov Increases Bank Share

The Federal Anti-Monopoly Service has cleared Cyprus-registered Losanp Trade to purchase an additional 30.08 percent of shares in Bank of Moscow, which would raise the company's stake in the bank to 49.99 percent, the service said Thursday.

Vitaly Yusufov told Interfax that he controls his Bank of Moscow stake via Losanp. "It is via the company that I currently own 19.91 percent of Bank of Moscow shares," he said. He has plans to boost his stake in the bank to blocking, but "for now no concrete agreements on such deals have been reached with other shareholders," he said.

Other shareholders with large stakes in the bank — besides VTB, Losanp and Stolichnaya Strakhovaya Gruppa — are Durland Investments (6.86 percent) and Plenium Invest (4.51 percent). Bank of Moscow has no information concerning their ultimate beneficiaries.


Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.