Russia-based Sovcombank finalizes acquisition of 2 local lenders

Russia-based PJSC Sovcombank said Dec. 31, 2020, that it completed a deal to purchase ONEY BANK LLC from Gefirus, a joint venture company of Credit Europe Bk (Russia) Ltd. and France-based Oney Bank SA.

Financial terms of the deal were not disclosed. Upon completion of the transaction, Oney Bank will begin a rebranding procedure.

Sovcombank also said it finalized the acquisition of local lender JSC Eurasian Bank from its Kazakh parent Eurasian Bank JSC after the deal was approved by the Russian central bank.