19
February
2010
METROPOL Group and SBI Holdings agree to jointly develop Internet banking
METROPOL Group of Companies and Japanese SBI Holdings have
signed a memorandum of mutual understanding concerning the joint
development Internet banking in the Russian market. According to
conditions of the memorandum, the parties have reached agreement in
principle regarding SBI Holdings’ purchase of 50% of the share of
the authorized capital of OBIBANK Commercial Bank limited company.
The parties plan to actively develop Internet banking services
using advanced Japanese technology and a know-how.
This project is the next stage of cooperation between IFC METROPOL
and SBI Holdings which began in December 2007 with signing of a
memorandum of cooperation. In May 2009, IFC METROPOL and SBI
Holdings concluded a contract about the creation of a management
company in the Netherlands for the control of a joint fund
totalling 100 million dollars, intended for investment in the
shares of Russian companies. In December 2009, IFC METROPOL and SBI
Securities realized a joint project trading Russian shares online
within the framework of which access to trade in the shares of 50
Russian companies on the Moscow Interbank Stock Exchange was given
to Japanese private investors.
SBI Holdings is a market leader of Internet banking in Japan. In
2007, SBI Holdings together with Sumitomo Trust & Banking
created Internet bank SBI Sumishin Net Bank with an authorized
capital of 25 billion yen (280 million dollars). A characteristic
feature of the bank is work only on the Internet and with
application of new technologies. As of December 2009, the number of
client accounts with the bank totalled 637 000, and the volume of
deposits exceeded 10 billion dollars. In 2008, The Asian Banker
named SBI Sumishin Net Bank the Best Internet Only Bank of
2008.
