trending Market Intelligence /marketintelligence/en/news-insights/trending/uswarxrvjsvi7eg7gopvha2 content esgSubNav
In This List

Report: Sovcombank secures regulatory approval to lift stake in RosEvroBank

Blog

Insight Weekly: Bank boards lag on gender parity; future of office in doubt; US LNG exports leap

Blog

Insight Weekly: Job growth faces hurdles; shale firms sit on cash pile; Africa's lithium future

Podcast

Street Talk | Episode 99 - Higher rates punish bond portfolios, weigh on bank M&A

Blog

Insight Weekly: Loan growth picks up; US-China PE deals fall; France faces winter energy crunch


Report: Sovcombank secures regulatory approval to lift stake in RosEvroBank

The Russian Federal Antimonopoly Service authorized PJSC Sovcombank to acquire a 54.67% stake in JSCB RosEvroBank (JSC), Vedomosti reported March 22.

The two lenders announced their merger plans earlier in March in a move to create a top-three private bank in Russia, with assets of more than 1 trillion Russian rubles.

Sovcombank already has a 45% stake in RosEvroBank and plans to acquire another stake of least 35% from REG Holding, which represents the lender's Russian shareholders.

As of March 22, US$1 was equivalent to 57.12 Russian rubles.