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BFA Bank shareholders approve merger with Bank Uralsib

The shareholders of Baltic Financial Agency Bank (PJSC) approved the lender's merger into PJSC BANK URALSIB.

Following the merger, all rights and obligations of BFA Bank will be transferred to Bank Uralsib. The reorganization is expected to be completed in May, BFA Bank said in its Jan. 24 filing.

Bank Uralsib is controlled by Russian businessman Vladimir Kogan, whose son Efim owns a stake in BFA Bank. Bank Uralsib's board of directors approved the merger in September.