Date: 8 months ago   Category: Finance

VTB buys bank in the Nizhny Novgorod Region — Rambler News Service


The VTB bank has reached the agreement with shareholders upon acquisition of 81% of stocks of the Nizhny Novgorod bank - Sarovbusinessbank, is planned to close the transaction until the end of the current year, the press service of VTB has reported. "VTB has reached the agreement with shareholders upon acquisition of 81% of stocks of Sarovbusinessbank – one of the leading banks of the Nizhny Novgorod Region. The corresponding memorandum has been signed by the parties", - it is said in the statement. It is noted that the final size of the acquired share will be determined after the obligatory offer to minority shareholders about repayment. Transfer of Sarovbusinessbank under a brand of VTB is planned to be finished in 2020. "Before integration of banks of the party we intend to keep key products and services which clients of Sarovbusinessbank use. At the same time products of VTB Group in the field of insurance and provision of pensions will also be offered clients. Work on integration of networks of ATMs, synchronization of key elements of business processes with use of technological capabilities of group will be carried out", - have added in the press service of VTB. Earlier the head of VTB Andrey Kostin has told journalists that the credit institution until the end of 2018 plans to buy two regional banks.

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