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M&A: Otkritie FC may purchase Contact payment system

Otkritie FC may purchase the Contact payment system together with its clearing bank. The parties have reached an agreement in principle to that end, according to the Vedomosti referring to a source affiliated with Russlavbank (Contact's settlement center).

In mid-May, Contact announced a strategic partnership with Rapida (belonging to the group of Nomos-Bank which itself is part of Otkritie FC), even though both systems continue operating as standalone legal entities.

Rapida specializes in the segment of payments to banks and service providers, Contact is one of the top 3 biggest players in the cash transfer market. In 2014, combined turnover of the two systems may reach ca. RUB 800 billion.

Otkritie Financial Corporation (tax number: 7708730590) is one of the leading Russian banking groups basically committed to investment banking services, commercial banking, brokerage as well as asset management. The corporation has ca. RUB 2 trillion in assets.

Russlavbank is a mid-sized Russian credit institution in terms of asset size and volume of operations. The bank provides all kinds of banking products and services involving Russian rubles and foreign currencies, specializing in retail lending and personal deposits.

"AK&M", 28.05.2014


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