The Bank of Russia said that Otkritie FC Bank's reorganization by taking over Khanty-Mansiysk Otkritie Bank has begun. The relevant notice was posted on the regulator's website on Wednesday.
The media reported in late April that Otkritie FC Bank's supervisory board proposed the EGM to make a decision to take over Khanty-Mansiysk Otkritie Bank. It was emphasized that the takeover was planned to be wrapped up in the third quarter.
Otkritie FC Bank management board chairman Evgeny Dankevich pointed out that the reorganization would lead to the establishment of a universal commercial bank with stable diversified business structure, improve the quality of capital management, and also increase the synergetic effect of areas of business.
Upon completion of the reorganization the bank will continue to operate under its corporate name Otkritie FC Bank PJSC and the single brand of Otkritie.
