Investment Republican Bank launched a reorganization procedure by taking over Contrast Bank and EliteNedvizhimost, the PR department of the Central Bank of the Russian Federation reported on Tuesday.
The news that the management teat at Republican Financial Corporation, which comprises both banks, decided to bring them under one roof broke at the beginning of the year. It was pointed out that a large financial institution, established through the merger, would specialize in corporate operations, providing investment and financial market services.
