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B&N Bank absorbs another unit

Moscow-based B&N Bank finalized the process of merging with unit B&N Bank Stolitsa (JSC), having completed both legal and technological integration with the subsidiary.

The integration is part of an ongoing consolidation process at B&N Bank Group. The owners of the group decided in October 2016 that some banks within the group would be merged into MDM Bank, which would be renamed and operate under the B&N Bank brand.