RIA NOVOSTI. The merger of Otkritie Commercial Bank (Moscow), Otkritie Investment Bank (Moscow) and Bank Petrovsky has come to a close, the PR department of the Central Bank of the Russian Federation said in a statement, RIA Novosti reported.
The merger was expected to end prior to October 1, 2010. Gubernsky Bank, based in Ekaterinburg, will be taken over in 2011. Otkritie Commercial Bank will become a Top 30 lender in Russia after the merger.
The Directorate of the Federal Tax Service of Russia in the city of Moscow made entries in the Unified State Register of Legal Entities about the termination of operations by Otkritie Investment Bank and Bank Petrovsky as standalone legal entities on September 27, 2010, the regulator reported.
International Finance Corporation (IFC, part of the World Bank) said previously that it could buy a minority stake in the merged lender by the end of 2010 provided that three banks are brought under one roof.
