The VTB holders decided to restructure the Bank in the form of the VTB24 merger, the Bank informed.
The retail business will be joined under the single VTB brand from Jan.1, 2018.
The products line joining started before the merger; the equal terms being used at both banks.
VTB Bank (TIN 7702070139) is ranked as the second bank in Russia by the assets volume. The government keeps 60.9%.
The Russian government is a major holder keeping 60.9348% votes or 45.01% of the share capital (with respect to Deposit Insurance Agency - 92.23%).
The Group includes above 20 credit and financial companies operating in different sectors of the capital market. It has representations in European countries, China, India etc.
The 9-month 2017 net profit (IAS) was doubled to reach 75.3bn rub. due to the rise in the net interest and expenses control; net interest moved up 10.7% to 343.7bn rub.; net commissions - 19.9% to 67bn rub.
"AK&M", 16:40, 10.11.2017 1251 AKM,BNK