Krediidipank, or the future Coop Pank got a new supervisory and management board
The new Chairman of the Supervisory Board of Krediidipank (starting from the autumn of 2017, Coop Pank) is Jaanus Vihand and the Chairman of the Management Board is Margus Rink.
At the shareholders’ meeting last week, the new Supervisory Board of AS Eesti Krediidipank was confirmed. It consists of Jaanus Vihand (Chairman of the Management Board of Coop Eesti Keskühistu), Jaan Marjundi (Chairman of the Management Board of Coop Harju), Roman Provotorov (Chairman of the Management Board of Coop Antsla), and Priit Põldoja (Chairman of the Management Council of AS Inbank). The representative of minority shareholders is Marko Kairjak.
At today’s supervisory board meeting, Jaanus Vihand was approved as the Chairman of the Supervisory Board of the bank and a new Management Board was appointed with Margus Rink elected as Chairman and Kerli Lõhmus (CFO) and Janek Uiboupin (risk manager) as members of the Management Board.
Estonia’s biggest retail group Coop Eesti bought the majority shares of Eesti Krediidipank that used to belong to the Moscow Bank in order to bring everyday banking services closer to the people. Together with Coop Eesti, Inbank acquired shares by contributing to the development of the bank as an advisor and a financial investor. From the autumn of 2017, the new name of the bank shall be Coop Pank.
The deal was done in two parts. In the first stage, Coop Eesti acquired nearly 60 percent and Inbank nearly 10 percent of Krediidipank. After that, the new bank will acquire Coop Finants, the joint subsidiary of Coop Eesti and Inbank, and Krediidipank Finants, the joint subsidiary of Eesti Krediidipank and Inbank, as a result of which the holdings of the new bank shall be respectively divided 55 for Coop Eesti and 25 for Inbank.