The Bank of Russia's Chief Directorate notified that SMP Bank's reorganization through the takeover of Investcapitalbank began on July 6, 2015, the regulator's press service reported.
These measures are taken in accordance with the requirements of Article 23.5 of the Federal Law "On Banks and Banking Activities".
SMP Bank's general shareholders meeting previously decided to take over Ufa-based Investcapitalbank.
Investcapitalbank is planned to fully keep its current product lineup, including deposit accounts, auto, mortgage loans and other products, which the bank's customers get accustomed to.
