The Bank of Russia withdrew from the capital of Otkritie Bank, 100% of the shares were transferred to VTB, the Bank of Russia announced in a press release on Tuesday.
"VTB Bank has fulfilled its obligations to the Bank of Russia by paying for the shares of PJSC Bank FC Otkritie in full. In accordance with the concluded agreement on the sale of PJSC Bank FC Otkritie, 100% of the bank's shares were transferred by the Bank of Russia to VTB Bank," according to the statement.
On December 22, the Bank of Russia and VTB Bank (PJSC) signed an agreement on selling 100% of shares of Bank Otkritie Financial Corporation (Public Joint-Stock Company), whereby the buying price for the shares is 340 billion rubles ($4.9 bln).
Otkritie ranks eighth in terms of assets among Russian banks. The bank was reorganized through the Banking Sector Consolidation Fund controlled by the Bank of Russia in August 2017. In early August 2021, the Bank of Russia announced that it had begun preparations for the sale of Otkritie bank shares. At the end of April 2022, it became known that VTB was going to acquire Otkritie.
