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FC Otkritie and Binbank will be Merged
February 3, 2018 10:58


The head of the Bank of Russia, Elvira Nabiullina, said that a principle decision had been made to unify two large financial organizations that were undergoing the rehabilitation procedure. We are talking about FC Otkritie and Binbank. "An internal decision  was made - Otkritie and Binbank as a bank, with the exception of some share, maybe of bad assets, will be merged," the head of the Central Bank said.

Both banks undergo the procedure of reorganization through the Fund for the Consolidation of Banking Sector (FCBS), established in 2017. The decision to rehabilitate Otkritie was made on August 29, and Binbank - on September 21. The combination of two banks in one large state bank was the most likely outcome for financial institutions.

The united bank will be headed by the former head of VTB24 Mikhail Zadornov. Beside Otkritie and Binbank, he will also be the head of Trust bank, restored by Otkritie; Rosgosstrakh Insurance Group, Otkritie Broker and other assets of the financial group.



Author: Anna Dorozhkina


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