Gazprombank to set up subsidiary in London


Gazprombank has decided to open a financial company in London, the bank's press service said Thursday.

“To implement this decision, we need to obtain permission from the Bank of Russia and regulating bodies in Britain,” the press service said. “We expect the process to be completed within 6-12 months.” One of Russia's top three banks and a subsidiary of Russian energy giant Gazprom, Gazprombank expects its presence in London to secure more instruments on international financial markets. Ulrich Rolf Gerza, an executive vice president in the bank, is expected to become the head of the company. Before coming to Gazprombank, Gerza was managing director of the structured products business of Dresdner Kleinwort.

Founded in 1990, Gazprombank, which has about 2 million retail clients and over 36,000 corporate clients, is one of the top five banks in Central and Eastern Europe, with assets totaling 1.088 trillion rubles ($43 billion) and equity capital of 88.3 billion rubles ($3.5 billion) as of April this year. (


SMEs Augur Higher Sales, Profit Next Year Analysis

SMEs Augur Higher Sales, Profit Next Year

Hungary, Poland Diverging in Views of Russia Int’l Relations

Hungary, Poland Diverging in Views of Russia

Hungarian-born Physicist Ferenc Krausz Shares Nobel Prize Science

Hungarian-born Physicist Ferenc Krausz Shares Nobel Prize

Celebrating Music Music

Celebrating Music


Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.