Potanin supported the integration of Rosbank and Tinkoff Bank while preserving the brands

Interros supported the proposal to integrate Tinkoff (MOEX: TCSG)-bank and Rosbank into a single group, said company owner Vladimir Potanin. Both banks will retain their licenses, brands and teams. Interros is the largest shareholder of Rosbank and TKS Holding (controls Tinkoff Bank).

Mr. Potanin’s statement was published in Telegram channel “Interrosa”. According to him, transactions will take place in compliance with market principles. The integration will take place “on the basis of a fair market valuation,” and Tinkoff Bank will be valued “with an adequate premium to the market.” In his opinion, the decision is in the interests of customers, shareholders and regulators in terms of “product line, ease of use, as well as value growth and financial stability.”

Mr. Potanin believes that unification is “the very situation when one plus one will give more than two.” “Rosbank’s key competencies in working with corporate and private clients, international banking experience and the highest reliability rating among Russian banks are complementary to what Tinkoff now has.” And vice versa, the advanced progressive developments of Tinkoff Bank, its focus on innovation, and the second largest base of retail clients will complement Rosbank’s profile, including in terms of technology and IT import substitution,” the statement says.

After Russia sent troops to Ukraine, control over Tinkoff Bank and Rosbank was gained by the structures of Vladimir Potanin. Last week became knownthat TKS Holding, in fact, plans to acquire Rosbank. According to Kommersant, the Tinkoff Bank team will be leading the integration process. Issues regarding the closure of low-profit business segments, including the reorganization of the branch network, are being discussed.

Read more in the publication “Kommersant” “They are looking for a leader for the future group”.

Leonid Uvarchev