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Acquisition of MDM Bank by the shareholders of B&N Bank is closed

Среда, 23 декабря 2015

The agreement to acquire a majority shareholding in MDM Bank was signed on 30 June 2015, following which integration of the business of B&N Bank and MDM Bank begаn. MDM Bank’s Board of Directors appointed Mikail Shishkhanov Chief Executive Officer at a Board meeting on 14 July 2015.  

As at the date of deal completion, a number of integration tasks have already been fulfilled. In particular, a single management system for the business of the banks undergoing merger has been developed (including management of the regional branch network), key retail products and tariffs have been unified, and the ATM networks combined.

It is planned that legal merger of B&N Bank and MDM Bank will be completed by the end of 2016. The enlarged bank, with expected capital of approximately RUB 100 billion, will operate under the B&N Bank brand.

Источник: “Ореанда-Новости”