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M&A: Société Générale increased equity stake in Rosbank to 99.4%

Société Générale acquired 7% of Rosbank's share capital from Interros group raising its stake to 99.4%, Rosbank informed.

"Results of the deal are in line with the Group's strategy of building up its stake in Rosbank. Société Générale confirmed its intention to develop its business in Russia. The Group's commitment to Russia is a part of a long term vision based on the belief that economic ties between Europe and Russia will strengthen and that the Russian banking sector has a strong growth potential.

ROSBANK (OJSC JSCB) (tax number: 7730060164) founded 1993 is among thirty major Russian banks. Being a full-service commercial bank, it provides the whole range of banking services both to legal entities and individuals. The bank's majority shareholder is France-based banking group Société Générale. Rusfinance Bank and DeltaCredit Bank are Rosbank's wholly owned subsidiaries.

IFRS net profit of Rosbank for H1 2013 increased 2.3-fold to RUB 7 billion.

RAS net profit of Rosbank for 2013 net of events after the balance sheet date decreased 2.1-fold to RUB 6.438 billion from RUB 13.369 billion the year before. Pre-tax profit decreased 1.67-fold to RUB 8.181 billion from RUB 13.685 billion.

"AK&M", 16.04.2014


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