Putin allowed the owner of Realist Bank to buy the Russian “daughter” of the Czech J&T Banka

Russian President Vladimir Putin sanctioned a deal to buy the assets of the Czech J&T Banka in the Russian Federation by the Bureaucrat holding, which owns Realist Bank. Disposition posted on the Legal Information Portal.

As part of the deal, Bureaucrat will buy back 127,030 ordinary shares of the Russian subsidiary of J&T Banka and 70,000 preferred shares of the financial institution’s subdivision in the Russian Federation.

At Realist Bank confirmedthat they will acquire a subsidiary bank of the Czech J&T Banka AS, which specializes in comprehensive servicing of corporate clients and operations in the securities market.

“The transfer of control over J&T Banka AS to Russian jurisdiction will expand the financial management capabilities of clients,” the bank notes.

In the spring of 2022, after the start of the Russian military operation in Ukraine “due to the international situation”, the head Czech bank J&T Banka temporarily suspended payment transactions with the Russian ruble. The financial organization announced its intention to leave the Russian market.

This is the second such transaction in the Russian banking market, carried out by special permission of the President. Since August 2022, all transactions by non-residents for the sale of shares or shares in Russian financial and credit organizations are prohibited without the permission of the head of state. In November last year, according to the new rules, RN-Bank was transferred to AvtoVAZ.

Alexander Kislov