PSB agreed to acquire SMP Bank by the end of 2022

PSB agreed to acquire SMP Bank by the end of 2022

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Promsvyazbank (PSB), a backbone for the military-industrial sector, has agreed on the purchase of SMP-Bank controlled by Arkady and Boris Rotenberg. Writes about it RBC citing a source close to the deal. The purchase price is not specified.

Information about the acquisition of SMP-Bank was also confirmed by an unnamed federal official. According to RBC, the deal could be announced before the end of 2022. Same dates December 14 voiced Deputy Minister of Finance of Russia Alexei Moiseev.

The fact that PSB can redeem SMP-Bank from the Rotenberg family, “Kommersant” informed in June. On October 7, Kommersant learned that SMP Bank became the sole owner of the insurance company of the same name. Sources note that these changes may be one of the stages in preparation for the future merger of the SMP-bank group with PSB, which does not have its own insurance company. Both PSB and SMP Bank are currently under blocking sanctions.

More details – in the material “Kommersant” “SMP Bank consolidates assets for PSB”.

Milena Kostereva

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