Since inception, Otkritie FC Bank has grown both organically and by acquisitions and has emerged as a long-term winner and sector consolidator in the Russian banking market. The following milestones provide an outline of Otkritie FC Bank history:
Otkritie FC Bank OJSC was incorporated as a privately-owned bank. Banking license was granted.
Head office of Otkritie FC Bank was established in Moscow.
Otkritie FC Bank started to diversify its operations from corporate to retail banking and other types of banking activities such as securities and money markets operations, including trading activities on MICEX and precious metals operations.
Otkritie FC Bank commenced its regional expansion strategy by opening its first branch in Novosibirsk, which was followed by the opening of branches in other regions across Russia.
Otkritie FC Bank purchased a controlling stake in Regiobank as part of its distribution network development strategy.
Otkritie FC Bank shareholders signed a memorandum of understanding to form a strategic partnership with PPF Group, a large privately-owned financial services group based in the Czech Republic.
Otkritie FC Bank acquired assets and liabilities of distressed Russian banks in cooperation with the Russian Deposit Insurance Agency (DIA) including Commercial Bank Moskovsky Capital and VEFK Siberia Bank.
In September 2010 Otkritie FC Bank announced its intention to purchase a controlling stake in Bank of Khanty-Mansiysk (BKM), one of the largest domestic regional banks. In mid-December 2010 Otkritie FC Bank consolidated 51.3% stake in BKM. It was the largest acquisition to date.
Otkritie FC Bank successfully completed an initial public offering both in Moscow and London via an institutional placing of ordinary shares and Global Depositary Receipts. The transaction value was US$782 million. The free float in Otkritie FC Bank now comprises 25.1% of the shares in issue, with the majority in GDR form.
On August 9, 2012 PPF sold its 26.5% stake in Otkritie FC Bank. 19.9% was acquired by Otkritie Holding, 3.5% was acquired by Mr. Mamut (co-owner of Polymetal) and 3.1% - by Mr. Malis.
November 2012 — February 2013
On 22 November 2012 NomGDR Limited (a Special Purpose Vehicle established by Otkritie Holding) declared its intention to acquire GDRs of Otkritie FC Bank from Otkritie FC Bank GDR holders at the price US$14. The offer period ended on 5 February 2013 and as a result, 16% of total voting stock was bought by NomGDR stipulating the decrease of free float to 5.4%.
Otkritie Holding has announced changes to its banking business integration structure. Under the new structure, business development will be based on the trio of Otkritie FC Bank, Otkritie Bank and Khanty-Mansiysk Bank.
Otkritie FC Bank has completed the merger reorganization two of its subsidiaries: NOMOS-REGIONBANK OJSC and NOMOS-BANK Siberia OJSC.
Otkritie Holding consolidated a controlling stake (51%) in Otkritie FC Bank through partial acquisition of ICT Group's stake and stakes of Mr. Mamut and Mr. Malis.
Otkritie FC Bank completed its SPO on the Moscow Exchange. A total of 21,800,000 shares were placed at RUB875 per share. As a result, the bank raised RUB 19.08 bn of new capital through the SPO.
As at April 7, 2014 Otkritie Holding owned 74,9% of Otkritie FC Bank shares and free float accounted for 25,1% of Otkritie FC Bank shares.
Otkritie Holding announced changes to its banking business integration strategy. Under the new integration strategy the corporate and investment banking business will be developed by “Otkritie Financial Corporation Bank” (currently Otkritie FC Bank) and in 2015 it will incorporate Bank Petrocommerce into its structure. The retail banking business will be developed by Khanty–Mansiysk Otkritie Bank, which will be set up in 2014 following Otkritie Bank’s integration with the Bank of Khanty-Mansiysk. This integrated banking combination will become one of the largest players in the Russian market focused on providing banking services to retail customers and small businesses.
|June 2014||Otkritie Financial Corporation has been renamed Otkritie Holding, and NOMOS-BANK is henceforth known as Otkritie Financial Corporation Bank Open Joint-Stock Company and has a new logo.|
|August 2014||In August 2014, having considered the tough market situation and closure of international capital markets for issuers from Russia, the Supervisory Board of Otkritie FC Bank decided to delist the Bank’s global depositary receipts (GDR) from the London Stock Exchange and close the global depositary receipts programme. Otkritie FC Bank’s common shares remained listed on the MICEX SE with ticker symbol OFCB.|
In November 2014, Otkritie Bank and Novosibirsk Municipal Bank merged with Bank of Khanty-Mansiysk. The reorganisation of the retail banking business was completed, resulting in the creation of one of the largest universal retail banks with a wide regional network. The universal nature of Khanty-Mansiysk Otkritie Bank not only made the Group’s business more resilient and efficient, but also provided a platform for a potential increase in sales volumes by improving the quality of client services and making banking services more accessible.
In November 2014, Otkritie FC Bank successfully completed its secondary public offering of shares (SPO) on the Moscow Exchange and raised RUB 21.4 billion of equity. The Bank placed a total of 22,838,624 shares at RUB 935 per share.
Otkritie Financial Corporation Bank has raised a USD 120 million syndicated loan from a group of foreign banks. The purpose of the loan is to provide financing to gold-mining companies being the Bank’s clients.
|December 2014||The Deposit Insurance Agency (DIA) has chosen Otkritie FC Bank as an investor for the financial rehabilitation of Trust Bank.|
|January 2015||At the extraordinary General Shareholders’ Meeting held on January 22, 2015 shareholders approved the reorganization of Otkritie FC Bank in the form of the merger of Petrocommerce Bank into Otkritie FC Bank. Otkritie Holding acquired 99.5% of Petrocommerce Bank from IFD Кapital Group that became a shareholder of Otkritie Holding.|
|May 2015||In April 2015, the board of directors of the Deposit Insurance Agency (DIA) approved the participation of Otkritie FC Bank in the Russian recapitalisation program, demonstrating once again the systemic importance of the Group to Russia’s banking system. As part of the program, in May 2015 Otkritie FC Bank and Petrocommerce Bank signed subordinated loan agreements with DIA and increased their capital by RUB 55.6 billion and RUB 9.6 billion respectively.|
|June 2015||In accordance with Otkritie’s strategy for the integration of its banking business, Petrocommerce Bank has been merged into Otkritie FC Bank. Otkritie FC Bank has become the legal successor of Petrocommerce Bank, with all of the latter’s current obligations continuing in full force and effect. |
Otkritie FC Bank intends to set up a number of branches using the Petrocommerce Bank network and experience, in order to focus on continuing to serve LUKOIL and its employees.
Otkritie FC Bank was ranked among Top 10 systemically important banks by the Bank of Russia.
|December 2015||Otkritie FC Bank became an accredited member of the Shanghai Gold Exchange (SGE) and is entitled to operate in the Shanghai free trade zone. |
Otkritie Financial Corporation Bank has raised a syndicated loan of USD 185 million from a consortium of 10 international banks. Proceeds will be used to provide financing to the Bank’s corporate clients in the Russian gold mining industry. It was the only syndicated loan raised by Russian banks in 2015.
|June 2016||The merger of Otkritie FC Bank and its subsidiary Khanty-Mansiysk Otkritie Bank was approved by the shareholders at the extraordinary General Shareholders Meeting held in June 2016. The merger is planned to be completed in Q3 2016.|
|August 2016||Otkritie Financial Group has completed the juridical procedures of Otkritie FC Bank’s merger with Khanty-Mansiysk Otkritie Bank. The complete integration (in terms of business operations, product line offering and IT) is planned to be finalised by 2017 year-end.|