VTB Capital closed the acquisition of 143 887 128 OJSC “Rosbank” (hereinafter – Rosbank) shares for VTB Group from Pharanco Holdings ltd, owned by Interros Group. As of 6 December 2010, the purchased stake amounts to 19.28% of the Rosbank charter capital.
Rosbank is one of the leading Russian banks that provides a wide range of banking services to retail and corporate clients. As of 1 October 2010, its total assets amounted to RUB 721.3bn, equity - RUB 44.3bn. With more then 600 offices in 70 regions of Russia, Rosbank’s branch network is one of the largest in the country.
Rosbank’s principal shareholder is Societe Generale Group. In February 2010, shareholders approved the merger of Rosbank with other Russian affiliates of Societe Generale (BSGV, DeltaCredit, Rusfinans Bank). When the consolidation has been completed, the unified group will become Russia’s largest international bank (#7 by total assets in Russian banking rankings) with leading positions in retail banking.
Yuri Soloviev, President at VTB Capital, said: “Rosbank is an attractive asset with a huge potential due to a strong growth outlook for the Russian banking market and the expected synergy with Societe Generale’s assets and franchise. We expect that this acquisition will be a successful financial investment for VTB Capital”.
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