"Finam" is fighting for the name

    “Finam” does not give up in the fight for the right to be called an investment bank. In order to get closer to the goal, the holding renamed its Megawattbank into Finam Investment Bank, the Vedomosti newspaper reported .

    Previously, the group tried to name its new division, but it did not succeed - there were disagreements with the Central Bank, which stated that it did not register a credit organization with that name and did not issue a banking license to it. At the same time, the Central Bank turned to the Prosecutor General’s Office with a request to check whether Finam was conducting illegal activities.

    According to Vladislav Kochetkov, head of the holding’s press service, Finam was forced to stop calling its investment bank its motto, and he remained with the short name Investment. At the same time, they decided to give a new name to the bank that is part of the holding structure. “Now there is confidence that the Central Bank will not have a reason for claims,” said Vladislav Kochetkov.

    It is worth noting that Finam asked for clarification regarding disagreements with the Central Bank to the Federal Service for Financial Markets (FSFM). And they noted that the law prohibits calling a company without a reason a bank, but not its structural units. Thus, the FFMS does not believe that the holding violated the law by calling the division a bank.

    At the same time, the FSFM reports that it is hardly advisable to introduce a special license for the phrase “investment bank”, since this is a concept, and not a specific type of business. “It makes sense to expand the capabilities of ordinary licenses of professional participants so that Russian investment institutions can provide their clients with a wide range of services and in fact be a world-class investment bank,” service representatives said.

    Now the announcement on the bank’s website, already bearing all the signs of a rebranding, says that the name change was “a consistent step in creating a unified financial holding company that can provide its customers with unlimited opportunities in managing their funds and developing their business”. The Central Bank has already registered a new name for this structure.

    Dmitry Serebrennikov, head of the Investment Division, emphasized that the team of top managers of the bank and the holding is one. According to him, the basis for the holding is investment banking.

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