OREANDA-NEWS. December 3, 2012. Nomos Bank’s Supervisory Board has passed a resolution to elect Vadim Belyaev, a major shareholder of Otkritie Financial Corporation, President of the Bank. Earlier, his appointment was approved by Russia’s Central Bank.

Nomos Bank’s Supervisory Board also recommended its minority shareholders to accept the forthcoming offer of NomGDR Limited to buyout global depositary receipts. The offer will be priced at USD 14 per GDR. Citigroup Global Markets Limited, financial advisors to Nomos Bank, have found the buyout terms fair.

“We welcome the resolution of the Supervisory Board to appoint Vadim Belyaev President of Nomos Bank. This will mark a new milestone in Nomos Bank’s consolidation into Otkritie group. Under Belyaev's direction, the integration of the businesses will be completed as scheduled and with maximum efficiency”, says Ruben Aganbegyan, Otkritie CEO.

This August, Otkritie has already bought 19.9% in Nomos Bank from the Czech PPF Group. Over the coming two years, the Corporation plans to consolidate up to 100% of Nomos Bank shares.