Uralprombank JSC has experienced some changes in the Board participation in the company’s authorized capital. Chairman Valeriy Efros bought 43.996% of the bank’s ordinary shares (his previous share comprised 31.826%). At the same time, the share of Mikhail Parfentiev, head of the bank’s management, dropped from 4.397% to 0%. The same happened to the share of deputy head Yuriy Kachalin (from 3.98% to 0%), the company’s report says.

According to Mr Parfentiev, all of these changes were discussed with and approved by the Central Bank within 1.5 months. He refused to explain these changes though saying he was not going to comment on his employers’ actions; Mr Parfentiev said that they are not likely to affect the bank’s activity and it should still be profitable as well as remain the sole executive body.