RBC DAILY. Owners of Smolensky Bank Group intend to merge Smolensky Bank and Bank Ascold, which are part of the group. After this the merged bank will boost its capital by Rub 500 mln in six months, RBC daily business newspaper wrote Tuesday.
As the group’s board member Pavel Shitov said, the merger with Bank Ascold will open more lending opportunities and cut costs. According to him, after the merger the bank intends to bump up its charter capital by another Rub 500 mln. So, the merged bank’s assets will total around Rub 1.7 bln.
The merger process will take six months. The merged bank will be developing under the Smolensky Bank brand. No staff reshuffles are in view, as Bank Ascold top managers will join Smolensky Bank.
