The Central Bank will continue to discuss the cost of Otkritie Bank
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The Central Bank intends to complete the sale of Otkritie Bank by the end of 2022 and continues to discuss its value with VTB. This was stated by the head of the regulator Elvira Nabiullina at a press conference following the meeting of the board of directors.
“We will be discussing the price with the buyer. These discussions will be held, and in any case, we intend to complete this transaction before the end of this year, so these discussions will be in the near future. Of course, based on the assessment of the appraiser,” said Ms. Nabiullina.
Earlier RBC with reference to the materials of the appraiser wrotethat as of June 30, the market value of 100% of the share capital of the Otkritie group was estimated at 359–386 billion rubles.
In April, the head of VTB Andrey Kostin addressed to the government with a proposal to unite VTB, Otkritie Bank and the Crimean RNKB into a common group. The head of the Central Bank, Elvira Nabiullina, supported the idea of a merger of banks.
Later in the Central Bank declared on the possibility of VTB selling the entire Otkritie group, which includes Otkritie Bank, Rosgosstrakh, the non-state pension fund Otkritie and other credit and investment structures. Since 2017, Otkritie has been owned by the Central Bank as part of the reorganization procedure.
Read more about plans to accelerate the integration of banks in the material “Kommersant” “Everything merges in state banks”.
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