The privatization of Otkritie Group and its units could take place in 2021, news agency Prime reported May 25, citing Otkritie Financial Corp. Bank's head Mikhail Zadornov.
In addition to Otkritie Bank, the planned privatization could also include Rosgosstrakh Insurance Company (Public Joint Stock Company) and non-state pension funds controlled by Otkritie. Zadornov also noted that shares in the potential privatization deal would be offered to a wide range of investors, and not just to one financial group.
Otkritie is currently controlled by the Russian central bank, which took over the group in August 2017. The regulator plans to merge Otkritie with B&N Bank, bailed out in September 2017, with the merger to be completed in 2019.
