Chair: Cbank considers Otkritie FC Bank, B&N Bank merger

SOCHI, Oct 5 (PRIME) -- The Russian central bank is discussing a merger between Otkritie Financial Corporation (FC) Bank and B&N Bank among the scenarios of their financial recovery, Chairwoman Elvira Nabiullina said at a forum on Thursday.

“A merger between Otkritie FC Bank and B&N Bank is a possible draft scenario. We have just begun to discuss the future strategies, business plans. Because our first-priority target is to appraise the assets. A merger between the banks is possible in the framework of discussion of these strategies as well,” Nabiullina said.

The central bank announced bailouts of Otkritie Financial Corporation (FC) Bank and B&N Bank on August 29 and September 21 respectively, and is the main owner of the banks under a new consolidation mechanism.

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