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M&A: GLOBEX Commercial Bank shareholders approve merger into Sviaz-Bank

The shareholders of GLOBEX Commercial Bank (Vnesheconombank Group) have approved the company's restructuring through its takeover by Sviaz-Bank, GLOBEX Bank informed.

The Central, Nevsky, Siberian, Don and Volga branches of Sviaz-Bank will be opened at GLOBEX Bank's branches.

As a result of the restructuring, Sviaz-Bank will become the legal successor of GLOBEX Commercial Bank assuming all of its rights and obligations.

Vnesheconombank will remains the principal shareholder of the merged bank.

GLOBEX Commercial Bank, Joint Stock Company (GLOBEXBANK, tax number: 7744001433) is a universal commercial bank founded in 1992. The bank provides all kinds of banking products and services involving Russian rubles and foreign currencies to legal entities and individuals. The bank is operating as part of Vnesheconombank Group.

The bank's key business is lending to priority economy sectors as determined by the Government of Russia. The bank lends to the real sector, accepts deposits of legal entities and individuals, develops an international business.

After tax profit of GLOBEX Commercial Bank for January-September 2017 was RUB 767 million.

State-owned corporation Bank for Development and Foreign Economic Affairs (Vnesheconombank, tax number: 7750004150) was established under the Federal law of the Russian Federation "About the Bank of Development" through the reorganization of Vnesheconombank USSR in 2007. Vnesheconombank is one of development institutes focusing on the elimination of infrastructural restrictions for the economical advance, the increase of efficiency of natural resources utilization, the development of hi-tech industries, the optimal usage of the SME innovative and production capacities, the support of export of industrial products and services.

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"AK&M", 10.08.2018 14:18


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