VTB has completed the transfer of Otkritie Bank branches under its brand. In total, the credit organization included 245 branches in 60 regions of Russia, it says in a press release on the VTB website. Otkritie ceased operations on January 1, should from the Unified State Register of Legal Entities.
VTB completed the takeover of Otkritie Bank
Author: Mihail Zelenin
“Today we are completing one of the largest projects in the field of banking infrastructure, its geography covers almost 70% of the country’s territory and is represented from Kaliningrad to Petropavlovsk-Kamchatsky,” said VTB board member Ruslan Eremenko.
He noted that as a result of the integration, most of Otkritie’s branches continued to operate under the VTB brand, except for duplicate offices. Eremenko added that the merger of Otkritie allowed VTB to strengthen its infrastructure, regional presence and become “even more accessible and closer to clients.”
The Bank of Russia closed the deal to sell Otkritie to VTB at the end of December 2022, the purchase amount was 340 billion rubles. The shares were paid for in cash (more than 233 billion rubles) and federal loan bonds in the amount of 106 billion rubles.
In mid-December 2024, over 4.6 thousand Otkritie ATMs were put up for auction with a total value of at least 1.7 billion rubles. Decommissioned ATMs may be needed by “niche players who are ready to invest in their modernization, or in cases where the high cost of new devices makes the purchase of used ATMs economically justified,” Igor Rastorguev, leading analyst at Amarkets, explained to RB.RU.
“Opening” was founded in Moscow in 1992. In the Interfax-100 ranking as of the third quarter of 2024, the bank occupied 14th place in terms of assets in Russia with an indicator of more than 1 billion rubles.
Cover photo: Vlad Karkov/SOPA Images/LightRocket /
Source: rb.ru
