Sovcombank announced its intention to acquire Home Bank; The transaction is expected to be completed by the end of 2024. This has been reported telegram channel credit organization.
They emphasized that the agreement will be implemented after all necessary regulatory approvals are received.
The first phase of the transaction will be the acquisition of 51% of Home Bank’s shares through the issuance of new shares in the amount of 5% of Sovcombank’s authorized capital.
The lender plans to acquire the remaining 49 percent of Home Bank as part of the second phase, which should last until the end of the year. It was stated in the publication that they will be paid in cash in installments between 2024-2025.
Before that, Governor of the Central Bank of Russia Elvira Nabiullina statedthat the regulator may consider introducing variable interest rates on loans to wealthy Russians.
At the meeting of the board of directors of the Central Bank of the Russian Federation on February 16 left The base rate remains unchanged at 16% per annum.
Formerly Central Bank of the Russian Federation raised key rate up to 16%.