Orient Express Bank unites with Bank “Dvizhenie” under the common brand

2009.08.04

On July 28, 2009 the Board of Directors of Orient Express Bank and on July 27, 2009 the Board of Directors of Closed Joint-Stock Company Commercial Bank “Dvizhenie” have made the decision of convening General Meetings of Holders referring to questions on reorganization in form of merger of “Dvizhenie” to Orient Express Bank. The Joint Bank will continue its activity under the brand of Open Joint-Stock Company “Orient Express Bank”.

Consolidation of the business is just a part of Orient Express Bank’s strategy and aims to the creation of big private universal bank of federal importance.

The Banks are mutually complementary in the view of presence territory. On the one hand, due to the merger Orient Express Bank will form an additional net of outlets in Western Siberia region and on the other hand, clients of the Bank “Dvizhenie” will have the possibility to get services in more than 150 cities all over Russia.