RGS Bank merges with Otkritie Bank

RGS Bank has legally joined Otkritie Bank and the merger of the banks’ information systems will take place before the end of 2022.

The reorganization of the branch networks of two credit institutions has already been completed: the classic branch network of RGS Bank will be connected to the Otkritie network and the network of remote sales points of RGS Bank at car dealers (more than 700) will continue to operate in the same format under the brand name Otkritie.

RGS Bank customers need not worry, all previously concluded agreements and obligations remain in force and do not require renegotiation. But now all Otkritie Bank services and services are now available for RGS Bank customers.

Over the past three years, RGS Bank has done an amazing job, ranking in the top 50 banks in Russia by assets, the top 25 banks by private loan portfolio, the top 5 by portfolio and the top 3 by car loans, including the becoming a leader in the used car loan sales segment.

The automotive business will continue to develop within the group, but under the Otkritie Avto brand. The direction will be led by Marina Dembitskaya, who was previously a member of the board of directors, director of retail business development at RGS Bank.

Mikhail Zadornov, president and chairman of the board of directors of Otkritie Bank, noted that the automotive industry remains one of the important activities of the Otkritie Bank Group.

The car business team will need to strengthen its leadership position in the car loan market, increase the customer portfolio of car dealers and car manufacturers and improve its digital operations.

Source: Z R

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