Vnesheconombank plans to receive final bids on Bank Globex and Svyaz-Bank until March 20, VEB's press service reported.
"Vnesheconombank has accomplished the marketing campaign and until March 20, 2017 expects to receive final bids regarding the price and the structure of deals from companies that are interested in buying the corporation's subsidiary banks Bank Globex and Svyaz-Bank," the press release runs.
According to VEB first deputy management board chairman Nikolay Tsekhomsky, "Vnesheconombank's objective is to select an investor in the first half of the year and agree upon final terms for the sale of the two banks. It is important for us to hand over the banks to a responsible long-term investor, preserving their clientele".
The state-owned corporation reiterated that corporate governance at the banks was improved and their capital was lifted during the initial stage of their preparation for sale (from July through October 2016). "At present, the financial standing of the lending institutions is stable, capital adequacy ratios are at a comfortable level. VEB carried out a full set of measures to sharpen the investment appeal of its subsidiary banks," VEB said in conclusion.
