Moscomprivatbank will change its corporate name to B&N Bank Credit Cards, Banki.ru learned. B&N Bank’s press service confirmed this information. The lending institution noted that the rebranding campaign would be finalized in 2015.
The media wired in early April that B&N Bank acquired 100% of Moscomprivatbank from Ukraine-based PrivatBank. The asset’s value, taking into account a subordinated loan, was assessed at around Rub 6 bln. It was also reported that DIA would have to grant a Rub 12 bln loan to B&N Bank to maintain Moscomprivatbank’s liquidity and also to execute a project to set up own independent IT infrastructure.
B&N Bank chief executive Mikail Shishkhanov claimed Moscomprivatbank would operate under the buyer’s brand.
The deal was closed in late April. It was pointed out at that time that B&N Bank planned to rebrand the entire network of the acquired bank’s offices in the near future.
