PRIME-TASS. The merger involving Rosbank and Bank Societe Generale Vostok will be finalized on July 1, 2011, Rosbank management board chairman Vladimir Golubkov said at a press conference in Krasnoyarsk, Prime-TASS wires.
“Since July 1, 2011 French Societe Generale Group will own around 82% of the merged bank’s capital. The merger’s primary idea is that one universal bank of the group with a full range of services will be operating in Russia. This is Rosbank. And also two specialized banks: DeltaCredit and Rusfinance Bank," Golubkov emphasized.
The merged bank will become the biggest asset of Societe Generale Group outside France. The merged bank’s capital will be slightly under Rub 100 bln and assets will be around Rub 600 bln. “By 2015 Russia should become the group’s second market in terms of returns," Golubkov added.
