Russia's Otkritie Financial Corporation wants to buy Russia's Petrocommerce bank and Petrocommerce-Ukraine

Russia's Otkritie Financial Corporation will become the owner of Russia's Petrocommerce bank, Petrocommerce-Ukraine said in a posting on its Web site.

"IFD Kapital Group and Otkritie Financial Corporation announced a new stage of strategic partnership, under which Otkritie Financial Corporation will become the owner of Petrocommerce bank. IFD Kapital will become a shareholder in Otkritie Financial Corporation," the bank said.

The deal will be commenced in 2013 and will be finalized by late 2014 after permits are obtained from regulators.

"Taking into account the fact that Petrocommerce bank holds a controlling stake in Petrocommerce-Ukraine bank and the deal will be finalized only after receiving the required permits from regulating agencies in Russia, it is not planned that the structure of shareholders, management bodies and top managers of Petrocommerce-Ukraine bank will change," the bank said.

Petrocommerce-Ukraine bank (earlier Aviatechbank) was founded in 1996. As of April 1, 2012 the bank's largest stockholder was OJSC Petrocommerce (96.4835%).

According to the National Bank of Ukraine, as of October 1, 2010 the bank ranked 105th among the 176 operating banks in Ukraine in terms of overall assets, which are estimated at UAH 1.167 billion.