Former top managers of Tinkoff Bank bought a Philippine bank – Kommersant
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Founded by former top managers of Tinkoff Bank (MOEX: TCSG) fintech startup Salmon has acquired a stake in Philippine bank Bank St Rosa. Told about this RBC startup co-founder Pavel Fedorov. The Central Bank of the Philippines has approved the deal.
Mr. Fedorov did not disclose the terms and cost of the transaction. The sale process will be completed within a few weeks. The startup will receive 59.7% of the credit institution. It is noted that the bank’s financial indicators are unknown: there is no data from rating agencies, and the latest financial activity reports have not been published. The bank has been operating since 1963.
Salmon was launched in the summer of 2022 by former co-head of Tinkoff Bank Pavel Fedorov, ex-chairman of the board of directors of the Russian bank Georgy Chesakov and Raffi Montemayor. According to RBC, the Philippine project is not associated with the Russian bank.
Read more about how Russian banks obtain Indian licenses in the material “Banks are expanding into India.”
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