Russia’s B&N Bank may hold IPO in 2-3 years

MOSCOW, Dec 11 (PRIME) -- B&N Bank, Russia’s 15th largest bank by assets also known as Binbank, may hold an initial public offering in two to three years, the bank’s core owner Mikail Shishkhanov told reporters Friday.

“We have an understanding that our most important financial institution – the commercial bank – should be public and end up on the market…We will be able to implement our managing qualities after integration, in a year or 18 months. So, our financial institution is likely to carry out (an IPO) in two or three years,” he said.

End