CEO: Russia’s Vozrozhdenie may merge with Absolut, Promsvyazbank

MOSCOW, Aug 25 (PRIME) -- Russia’s Bank Vozrozhdenie may merge with both Promsvyazbank and Absolut Bank, Igor Antonov, CEO of Vozrozhdenie Bank said on Tuesday.

“We may see a unique new alliance on the Russian banking market… We believe that it is a really stable variant,” Antonov said about banks’ possible merger.

Promsvyazcapital B.V. belonging to the Ananyev brothers, a majority shareholder of Promsvyazbank, earlier received an antitrust approval to buy 75% in Vozrozhdenie Bank. The CEO still refused to confirm that Promsvyazbank B.V. purchased the stake.

In May, Antonov said that Bank Vozrozhdenie and Absolut Bank plan to merge.

The results of negotiations on the merger of Bank Vozrozhdenie and Absolut Bank are likely to be considered by the Bank Vozrozhdenie’s board of directors at a meeting on Thursday or Friday, Antonov said.

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