VTB CEO Andrei Kostin said at the Eastern Economic Forum (EEF) that the purchase of Pochta Bank will be paid in cash and will be completed in 2026, RIA Novosti reported. However, he did not rule out that the deal could be completed earlier.
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He added that the final evaluation of the transaction has not yet been completed, but the bank has already received approval from the Federal Antimonopoly Service (FAS) of the Russian Federation to use the Postal structure.
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 then deconsolidated due to sanctions risks. Post Bank head 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 Post Bank, Alexander Pakhomov.
In the summer of 2024, Deputy Chairman of the Board of Directors of VTB Dmitry Pyanov told Interfax about plans to integrate Pochta Bank into the structure of the credit institution. In mid-July, VTB received government approval to acquire a stake in the company.
Author:
Karina Pardaeva
Source: RB
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.
