A PYMNTS Company

Russia: Vozrozhdenie bank explores a merger with Absolut

By  |  May 25, 2015

Vozrozhdenie Bank said management should explore a merger with Absolut Bank, a deal that would create Russia’s 20th largest lender.

Management of the bank was “instructed to thoroughly analyze and investigate the proposal,” Otar Margania, chairman of Vozrozhdenie’s board of directors, said in a statement on its website. A final decision will be taken in one of the upcoming board meetings, the bank said.

Absolut Bank, Russia’s 40th largest by assets, and Vozrozhdenie, which ranks 41st, are focused in Moscow and the Moscow region.

 

Full content: Bloomberg

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.