Gazprombank: information on paying fees and checking account status for the holders of shares
Many holders of shares of Gazprom, Lukoil, Rosneft and other Russian companies converted from depositary receipts use "C" type depo accounts with Gazprombank (the "GPB").
It is quite natural that holders want to control the status of their shares in "C" accounts, which is why many clients ask us about this possibility. However, GPB has once again confirmed that the bank does not offer its clients the opportunity to check the status of "C" depository accounts online. Account holders can only check their status by visiting the bank in person or with the help of a representative with a notarized power of attorney. If the power of attorney is issued abroad, it must also be apostiled.
With regard to the payment of bank account maintenance fees, some clients often wish to pay more fees in advance in order to have a reserve for the future. However, GPB has confirmed that it is not possible to pay commissions for the future and each payment must be made on the basis of a specific invoice; excessive amounts will be refunded to the client immediately.
The information provided in this message is for general guidance only and does not constitute legal or financial advice. MAGENTA Legal accepts no liability for any actions (or inactions) based on the information provided. Please consult with your legal and/or financial advisor.
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