Central Bank describes as successful deal on sale of Otkritie Bank VTB

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The agreement to sell 100% of Otkritie Bank’s shares to VTB Bank for RUB 340 billion was successful. About this “Interfax” reported In the press service of the Central Bank. They stated that Otkritie has a capital value of 0.6.

“Currently, this is a good market indicator and we consider this deal a success,” the Central Bank press service said.

December 22 at the Central Bank reportedthis closed the deal on the sale of Otkritie to VTB. The regulator and VTB signed an agreement to sell 100% of Otkritie shares. VTB’s ownership rights over Otkritie will be valid until 31 December 2022. VTB acquired Otkritie using cash and federal loan bonds.

From January 1, 2023, the head of Otkritie Bank, Mikhail Zadornov, leaves his post. Mikhail Alekseev, former vice-president of the Central Bank of Russia, could replace him.

Central Bank Governor Elvira Nabiullina said at a press conference on Friday that Otkritie Bank should be sold in the near future, while the regulator will close the deal before 2022 ends.

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