Czarnecki awaits Russian Central Bank's agreement on sale

One of the wealthiest men in Poland, Leszek Czarnecki who controls stock-listed Getin Service Provider, is concluding the take over of a Russian bank. "Getin has already finished due diligence of NBD Bank from Niznyj Gorod. The only thing required to conclude the transaction is the Russian central banks agreement", said a Puls Biznesu informer. According to previous announcements, Getin's partner in the transaction is the European Bank of Reconstruction and Development, which already owns a 25% stake in NBD. The Polish company plans to acquire 57% of shares in the Russian institution, which may cost about $8.8 million. NBD Bank services mostly SMEs, but also offers retail products. Its assets are worth about $70 million, while its own capital about $9.5 million. The bank may be used for developing Getin's subsidiary Carcade Russia, which has very huge growth potential and is registered in Kaliningrad. (Puls Biznesu, pp. 1, 3) M.M.