After the purchase of Otkritie Bank by VTB, the brand will exist for about a year and a half. The deal itself is very likely to take place before the end of 2022, VTB director Andrey Kostin said on air on Rossiya 24.
Earlier, the Central Bank announced plans to assess the value of the entire Otkritie group for a new merger with VTB.
“The Central Bank and VTB Bank are two participants in this agreement; both believe the deal will be completed before the end of this year. We have made a lot of progress, I hope that in the near future there will be news on this subject, “said Kostin.
He added that the brand itself may exist for about a year and a half, but then it disappears. Kostin noted that negotiations on the purchase are in the final stage. The final agreement on the conditions should take place within the next few days.
Otkritie Bank has been owned by the Central Bank since 2017 as part of the reorganization procedure, the regulator owns 99.9% of the organization’s shares. The proposal to merge Otkritie itself and the Crimean RNCB into a common VTB group came from Kostin due to sanctions pressure.
Author:
Natalia Gormaleva
Source: RB
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