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

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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.

Alfa-Bank Deputy CEO Alexei Marei said that the bank is interested in assets of Otkritie Financial Corporation (FC) Bank and B&N Bank but it is too early to talk about the purchase.

“Yes, it’s interesting. It is unclear what to buy. We’ll see when there is something to buy and when they sell, ” Marei said.

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