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Home Business VTB buys more than 70% of Zapsibkombank

VTB buys more than 70% of Zapsibkombank

MOSCOW, 6 Nov – PRIME. VTB has reached an agreement with shareholders of Zapsibcombank on the acquisition of more than 70% of the shares of a credit institution, the closing of the transaction is planned before the end of this year, the state bank said.

"VTB has reached an agreement with shareholders of Zapsibkombank on the acquisition of more than 70% of the shares of one of the leading banks of the Urals Federal District. The corresponding memorandum was signed by the parties," the statement said.

Under the terms of the agreement, VTB buys a controlling stake in Zapsibkombank, its final size will be determined after the mandatory offer to minority shareholders for the repurchase of shares. Closing of the transaction is planned before the end of this year after receiving all the necessary regulatory approvals and corporate decisions of the VTB Group.

According to BIR Analyst, as of October 1, Zapsibcombank occupied 59th place in the banking system of the Russian Federation with assets of 127.44 billion rubles, own funds amounted to 15.7 billion rubles, deposits of the population – 70.3 billion rubles.

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