Bank Saint Petersburg plans to wrap up the acquisition of a 100% interest in Kaliningrad-based Bank Evropeisky next January. The Bank of Russia is expected to approve the deal in the near term.
Bank Saint Petersburg’s supervisory board already greenlighted the acquisition, the lending institution specified in a press release.
As the bank quoted Bank Saint Petersburg management board chairman Alexander Saveliev as pointing out, the deal will enable the lending institution to conquer over 10% of the banking services market in Kaliningrad and the Kaliningrad region. Bank Evropeisky management board chairman Bogdan Yarovoy emphasized that the bank’s management team will continue to provide seamless interaction with clients who will gain access to Bank Saint Petersburg’s technologies and services.
