MOSCOW, November 20 (RIA Novosti) - Housing Finance Bank has no plans to sell itself to the Soros Fund Management LLC., the owners of the Russian bank said Monday.
"Nobody is selling the bank. The bank has its own serious concept for development, and its owners are not interested in selling it," bank spokeswoman Mariya Dovgaya said.
She said the fund of the prominent American billionaire George Soros did have investment plans for the privately owned Housing Finance Bank, but added that it was one of many investors interested in the asset.
The Housing Finance Bank, formerly United Industrial and Trade Bank, was set up in 1994 and is part of Russia's PIK Group specializing in housing design and construction. The bank reoriented to mortgage programs in 1999.
