Cyprus's MPB buys Russian industrial bank for $83 mln

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MOSCOW, September 5 (RIA Novosti) - Marfin Popular Bank (MPB), Cyprus's largest and Greece's second largest bank, has acquired a controlling stake in Rossiysky Promyshlenny Bank, or Rosprombank, the Athens News Agency reported Friday.

The acquisition, the first in Russia by a Greek bank, was completed through the transfer of a majority stake (50.04%) of the equity interest of the Russian CJSC RPB Holding, Rosprombank's parent company, to MPB for 83 million euros.

The MPB Group's international network will now number 478 branches in Cyprus, Greece, Russia, Ukraine, Romania, Serbia, Britain, Malta, Estonia and Australia.

Rosprombank was established in 1997 and has a dynamic presence through its network of 32 branches and points of service in major Russian cities, including Moscow and St. Petersburg and their surrounding areas.

Rosprombank, among Russia's top 200 banks, reported 2007 audited net profits of 6.3 million euros, total assets of 297.5 million euros, and overall deposits of 177.6 million euros.

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