Trust Bank will sell 90% of Tochka for 41.5 billion rubles, Kommersant reports.

Trust Bank will sell 90% of Tochka for 41.5 billion rubles

The financial company will be bought by its management and a consortium of investors with the participation of Interros, will be consolidated at 100%.

The Trust put up for public auction 90.01% of the shares of Tochka JSC in April 2023, the initial price was 22.7 billion rubles. Thus, 100% of Tochka was estimated at 25.2 billion rubles.

Seven companies bid for the purchase of Tochka Bank, it was reported that the price during the auction could rise to 30-35 billion rubles. Among the applicants were Rosbank, Alfa-Bank, Tinkoff, Yandex, Uralsib, Qiwi and Sovcombank.

Tochka is a digital bank that provides financial and non-financial services to small and medium-sized businesses. In January, the Bank of Russia issued a universal banking license to the company. Tochka’s net profit according to RAS in 2022 reached 6.2 billion rubles, having increased 2.2 times by 2021.

In March, the owners of S7 Group became minority shareholders of Tochka. At the same time, it was reported that the bank’s statute provides for the priority right of a minority shareholder to consolidate 100% of the bank.

Author:

anastasia mariana

Source: RB

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I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.

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