Cbank to sell Otkritie FC Bank to VTB Bank for 340 bln rbl in 2022

MOSCOW, Dec 22 (PRIME) -- The central bank has signed an agreement with Russia’s second-largest lender VTB Bank on the sale of Otkritie Financial Corporation (FC) Bank for 340 billion rubles, the regulator said in a statement on Thursday.

Of the sum, 233.1 billion rubles will be paid in cash, and 106.9 billion rubles in OFZ government bonds.

VTB Bank can gain the control over Otkritie FC Bank already in 2022.

“The parties have agreed that the ownership rights for the shares of Otkritie FC Bank will be transferred to VTB Bank no later than on December 31, 2022 if VTB Bank fulfills its payment obligation completely,” the central bank said.

VTB said in a statement that it plans to strengthen its positions on the Russian market.

It also said that the plan on integration with Otkritie FC Bank will be approved after the deal is closed, but VTB plans to retain unchanged Otkritie’s key products and services, and nothing will change for the bank’s clients in the near future.

(70.5256 rubles – U.S. $1)

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