Sovcombank, Rosevrobank to merge to become one of top Russian banks - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Sovcombank, Rosevrobank to merge to become one of top Russian banks

MOSCOW, Mar 13 (PRIME) -- Sovcombank and Rosevrobank will merge to create one of RussiaТs three largest banks by assets and capital, the two banks said in a joint statement on Tuesday.

Assets of the merged banking group will exceed 1 trillion rubles, while its capital will exceed 100 billion rubles, the statement read.

As of January 1, Rosevrobank was RussiaТs 44th largest bank by assets, while Sovcombank was 17th largest bank.

Currently, Sovcombank controls 45% in Rosevrobank, and it will acquire at least 35% more in the bank from REG Holding. Rosevrobank Chairman of the Management Board Ilya Brodsky will convert the bulk of his shares in the bank into shares of the merged bank and will become a member of the bankТs management and supervisory boards.

SovcombankТs CEO Dmitry Gusev said in the statement that the banks would continue working on their own without significant organizational changes until the end of 2018.

(56.6122 rubles Ц U.S. $1)

End

13.03.2018 19:01
 
 
Share |
To report an error select text and press Ctrl+Enter
 
 
Central Bank Official Rate
1W 1M 1Y
USD
EUR 75.5841 -0.0489 19 jan
USD 66.3309 -0.1129 19 jan
Stock Market Indices
1D 1W 1M 1Y
MICEX
rtsi 1176.42 +1.67 18:50 18 jan
micex 2473.61 +1.06 18:50 18 jan
Stock Quotes in RUR
1D 1W 1M 1Y
GAZP
gazp 159.20 +1.34 18:49 18 jan
lkoh 5193.50 +0.17 18:49 18 jan
rosn 419.70 +0.91 18:48 18 jan
sber 208.44 +2.52 18:49 18 jan
MICEX Ruble Trading
1D 1W 1M 1Y
USDTD
EURTD 75.6150 -0.1575 14:59 18 jan
USDTD 66.3225 -0.2800 17:44 18 jan