The new Board of Directors was elected in the course of an EGM held by Ural Treasures Bank’s shareholders. The new Board now consists of V. Balabanov, A. Gusev, A. Danilin, I. Mukhametdinov, and V. Urvantseva. Besides, the bank moved on from being a close joint stock company to being an open one. V. Balabanov was re-elected BOD Chairman, while Alexander Vasilyev was appointed acting CEO and Chairman of the Supervisory Board, thus succeeding Mr. Markov, who is now employed by Moscow-based Rus-Bank, the bank’s press officer said to UrBC.

Ural Treasures Bank is Ural Federal District’s 15th largest and Russia’s 86th largest bank in terms of private individuals’ deposit volume. In addition, it is Ural Federal District’s 9th largest and Russia’s 185th largest bank in terms of asset volume: this grew by 23.2% in 2007.