VTB intends to integrate Post Bank into its structure, but this will not happen before mid-2025, Deputy Chairman of the Board of Directors of VTB Dmitry Pyanov shared his plans.
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VTB plans to integrate Pochta Bank into its structure
As Pyanov told Interfax, it is not yet clear how the process will be carried out, but the bank is considering several options taking into account the interests of Russian Post, including payment for infrastructure.
“Therefore, we at VTB Bank are seriously discussing the option of integrating Post Bank into the structure of VTB at some point, when we integrate Otkritie, BM Bank and RNKB,” said the deputy chairman of the bank’s board of directors.
The integration could be carried out, in particular, following the example of Otkritie, when the credit institution’s clients were transferred to VTB’s balance sheet, Pyanov admits. A merger scenario following the example of RNKB is also being discussed, which has not yet been implemented.
Pochta-Bank was founded in 2016 on the basis of Leto-Bank by Russian Post and VTB. Until 2018, VTB held a majority stake in the structure. The asset was subsequently deconsolidated due to sanctions risks.
Thus, the head of Post Bank Dmitry Rudenko bought two shares. In 2021, VTB planned to regain control of the asset, but due to its inclusion in the sanctions lists, it was forced to sell two shares again to the chairman of the board of Pochta Bank Alexander Pakhomov.
Author:
Natalia Gormaleva
Source: RB
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