April 28. 2006
Sampo Bank acquires Profibank in St. Petersburg, Russia
Sampo plcs fully-owned subsidiary Sampo Bank plc has signed an agreement to acquire Industry and Finance Bank (Profibank), a Russian bank based in St. Petersburg.
On 31 March 2006 Profibank´s total assets amounted to RURm 41 (EURm 1.2) and its equity totalled RURm 15 (EURm 0.4). The bank possesses all relevant banking licenses, including the license to attract deposits from individuals. The bank also participates in the Deposit Insurance System.
After having built up and strengthened the current operations of Profibank, Sampo Bank intends to offer retail banking services starting in the St. Petersburg region. Corporate services will be focused on Finnish and Nordic customers of Sampo that are operating in Russia.
The closing of the transaction is subject to receiving necessary authority approvals.
For further information
President of Sampo Bank plc
Tel. +358 10 516 00 06
Head of Group Communications, Sampo plc
Tel. +358 10 516 00 40
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