PSB confirms acquisition of SMP Bank – News – Finance – Kommersant

Promsvyazbank (PSB) officially announced the acquisition of SMP Bank, controlled by Arkady and Boris Rotenberg. The corresponding press release was published on website PSB.

“The PSB Group gained control over SMP Bank by buying shares from Arkady and Boris Rotenberg. The powers of the board of directors and executive bodies of the bank (the chairman of the board and members of the board) were terminated, and a new apparatus of the board began to work. The powers of the Board of Directors have been redistributed between the General Meeting of Shareholders and the Management Board,” the press service said in a statement.

PSB reported that the perimeter of the transaction also included the parent credit organization SMP Bank JSC and its subsidiaries, including MOSOBLBANK JSC, SMP-Insurance LLC, factoring and leasing companies. It is noted that insurance services will appear in the updated line of additional services of PSB after the conclusion of the transaction.

In October, SMP-Bank became the sole owner of the insurance company of the same name. These changes could be one of the stages of preparation for the upcoming 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”.

Erdni Kagaltynov