T-Bank Group reported a loss of 700 million rubles on the purchase of Rosbank

This result is due to the need to reflect in the reports “first day reserves” after the purchase of an asset; this is what IFRS standards require, Ilya Pisemsky, deputy chairman of the board of directors of T-Bank, told the publication.

According to him, this consists of reserves for the first day of 12 billion rubles before income tax, as well as the profit from the profitable acquisition of the bank, which is estimated at 8.7 billion rubles. “This gives us losses of about 700 million rubles, which in general are almost zero,” explained the senior manager.

At the end of the third quarter of 2024, T-Technologies’ net profit amounted to 37.8 billion rubles, an increase of 60% compared to the same period in 2023. The group’s revenue increased to 264 billion rubles , a year-on-year growth of 107%.

The group is satisfied with the results of the Rosbank acquisition and admitted the possibility of future mergers and acquisitions, T-Bank head Stanislav Bliznyuk told RBC. He clarified that in the next two years, T-Technologies “will look more confidently at larger mergers and acquisitions.”

T-Bank’s plans to merge with Rosbank became known in March. In September, the parties decided that Rosbank would merge with T-Bank in the form of a branch; This means that after asset transfer and full integration you would lose your license. The merger is planned to be completed in the first quarter of 2025.