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VTB reached an agreement with shareholders of Zapsibcombank on the acquisition of more than 70% of the shares of one of the leading banks in the Urals Federal District. The corresponding memorandum was signed by the parties. This is stated in the message
VTB reached an agreement with shareholders of Zapsibcombank on the acquisition of more than 70% of the shares of one of the leading banks in the Urals Federal District. The corresponding memorandum was signed by the parties. This is stated in the message of VTB Bank.
Under the terms of the agreement, VTB buys a controlling stake in Zapsibcombank. The final size of the acquired share will be determined after the mandatory offer to minority shareholders on the repurchase of shares. Closing of the transaction is planned before the end of this year after receiving all the necessary regulatory approvals and corporate decisions of VTB Group. The parties intend to preserve the key products and services that are used by customers of Zapsibcombank - both individuals and legal entities. The development of the product line and the enhancement of its competitive advantages will be continued based on all the technological, product and financial capabilities of the VTB Group. The team of the bank, which has extensive experience in the Tyumen region and other regions of presence, will be maintained and strengthened by the managers of VTB Bank. After the closing of the transaction, steps will be defined for the further integration of banks, which is planned to be completed in 2020, when Zapsibcombank will go under the VTB brand. The strategy of its development will involve further strengthening the position of the merged bank in the Urals market. PJSC Zapsibcombank (Tyumen, INN 7202021856) was founded on November 23, 1990 on the basis of the Tyumen territorial department of Promstroybank. The Tyumen Region and the Yamal-Nenets Autonomous Okrug bought out a controlling stake in Zapsibcombank. Zapsibcombank is a universal bank, the main region of presence of which is Tyumen and Tyumen Oblast, where the bank holds leading market positions. The Bank specializes in mortgage and consumer lending to individuals (its share in the retail lending market of the Tyumen Region is about 8%), cash management services and lending to legal entities, as well as investments in securities and operations in the interbank market. In addition, the bank credits regional authorities and organizations that are in municipal ownership, provides bank guarantees and other services to these customers (cash management services, payroll projects). Today, Zapsibcombank is one of the leaders in the Urals banking industry. It serves over 600 thousand individuals and 21 thousand corporate clients. The acquisition will allow VTB to increase the market share of the Tyumen region on loans to individuals by almost 2 times, on liabilities - almost 2.5 times, and also to double the number of branches in the Tyumen region. VTB Group is a Russian financial group that includes more than 20 credit and financial companies operating in all major segments of the financial market. In the CIS countries, the group is represented in Armenia, Ukraine, Belarus, Kazakhstan, Azerbaijan. VTB banks in Austria, Germany and France work in the framework of the European subholding headed by VTB Bank (Austria). In addition, the group has subsidiaries and associates in the UK, Cyprus, Serbia, Georgia and Angola, as well as one branch of VTB Bank in China and India, two branches of VTB Capital Plc in Singapore and Dubai. VTB's net profit under IFRS in the first half of 2018 increased by 70.1% to 98.5 billion rubles, in the II quarter - by 41.9% to 43 billion rubles. compared with the same period of 2017. Net interest income increased by 4.8% to 238.1 billion rubles. Net interest margin in the first half was 4.1%, rising to 4.2% in the second quarter of 2018 compared to 4.1% in the first quarter of 2018 and 4.1% in 2017.
AK & M "Mergers and Acquisitions Market"