VTB will begin offering its products in Otkritie offices in January – Kommersant
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VTB will offer its retail financial products in the offices of Otkritie Bank from January 2024. The integration of the two credit institutions will be fully completed by the end of 2024, said Deputy President and Chairman of the Board Georgy Gorshkov at the “Russia Calling!” forum.
From the beginning of the year, Otkritie offices will offer debit and credit cards, mortgage loans and a range of VTB savings products. First, it will be possible to issue ruble deposits for a period of more than six months, and from the second quarter they will begin selling the entire line of VTB deposits and savings accounts. As Mr. Gorshkov noted, from the second quarter migration will move “to the most active phase and will continue until the final merger of the business.”
From December 2023, a gradual transfer of the network of Otkritie branches under the VTB brand will begin. The process will be completed by the end of 2024. “The main task during the integration is to harmonize our offers and provide Otkrytie customers with not just similar, but also more profitable products and services,” added Mr. Gorshkov.
In the second half of 2023, a single team of managers of VTB and Otkritie in the regions was formed. Top management in 2024 will be responsible for the work of two banks in 63 regions and will oversee their merger.
About Otkritie’s losses in October 2023 – in the Kommersant material “Systemically significant losses”.
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