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Otkritie Banking Group Announces Management Shuffle

11.03.2016

Dmitry Romaev will head the Supervisory Board of Otkritie FC Bank; and Evgeny Dankevich will become Chairman of the Bank’s Management Board. These changes will take place after the Bank of Russia approves Evgeny Dankevich in his new capacity.

Ruben Aganbegyan, Otkritie Holding CEO: “These changes are intended to improve corporate governance within our banking group. Dmitry Romaev will focus on strategic development while Evgeny Dankevich will be in charge of the Bank’s operational management and the development of a plan for further integration of Otkritie’s banking business.”

Dmitry Romaev, Chairman of Otkritie FC Bank’s Management Board: “In the last few years, Otkritie’s banking business has grown considerably thanks to, among other things, consolidation of a number of federal- and regional-level banks – we have become Russia’s biggest privately owned banking group by assets. These changes make our management system evolve: it has to be more comprehensive, multilevel and adequate for the various strategic and tactical challenges we face. In my new capacity as Supervisory Board Chairman, I will be able to concentrate on strategic decision-making and long-term concept planning. Evgeny Dankevich has unique practical experience in bank management, including at consolidation stage. I am confident that these changes in corporate governance will help us achieve the expected results such as increased efficiency and lower costs.”

Evgeny Dankevich, Chairman of Khanty-Mansiysk Otkritie Bank’s Management Board: “Our banking group is entering a new development stage linked to further consolidation. We are considering a number of integration options for Otkritie Group’s banks and will launch the project as soon as we have approval from the Bank of Russia. Consolidation of businesses is a positive process. As the history of the Russian financial market demonstrates, “big” and “reliable” are synonymous. The potential and synergy of such consolidation are obvious to us. We are going to create a larger and a more efficient structure, gaining an advantage for both our clients and shareholders. This will let us grow our market share of both large corporate as well as SME and retail clients.”