Pyanov explained that duplicating teams, product lines and IT environments, which requires import substitution, is not a viable retail business development strategy. VTB believes that Pochta Bank will not be able to finance loyalty programs and maintain competitive IT budgets for the variety of products and advertising required for profitable development.
Various integration scenarios are currently being considered, including transferring customers to VTB’s balance sheet or a full merger. At the same time, the interests of Russian Post, including paying for infrastructure of Post Bank, are also being taken into account.
Russian Post confirmed the discussions, stressing that financial services will remain accessible to customers, especially in remote areas where post offices are often the only access to financial services.
Source: Ferra
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