VTB is exploring the possibility of purchasing Vozrozhdenie

VTB is considering the option of purchasing Vozrozhdenie Bank, VTB President Andrei Kostin said at the economic forum in Davos. According to him, there “may be interest” in the bank, but VTB managers “have never analyzed this bank” and have a poor understanding of the situation in it. “We’ll probably take up this topic now, after returning from Davos, and we’ll see,” Kostin promised.

• Vozrozhdenie shares on the Moscow Exchange rose by 12.6% after the statement by the head of VTB.
• The owners of Vozrozhdenie, former shareholders of Promsvyazbank that came under reorganization in December, Dmitry and Alexey Ananyev, must part with the asset by mid-March - according to the law, the owners of sanitized banks cannot control other banks.
• In mid-January, the Central Bank demanded that the Ananyevs speed up the deal and sell the bank within a month (that is, until mid-February). The bank, however, stated that it had not officially received such an order.
• Promsvyazbank was sent for reorganization by the Central Bank on December 15, and as a result it will be given to the government to work with defense enterprises after the introduction of new sanctions. You can read more about the story with Promsvyazbank here and here .
• Kommersant wrote that the Ananyevs also discussed the purchase of Vozrozhdenie with Alfa Bank, Sovcombank and Uralsib. None of them confirmed their interest in the asset - everyone fears that the bank may have “skeletons in the closet.”
• If a buyer is not found, the Central Bank will most likely introduce a temporary administration in Vozrozhdenie.

What's in it for me?

Most likely, nothing will happen to the savings of Vozrozhdenie clients either in the event of a deal or in the event of the introduction of a temporary administration. But the news about a possible deal with VTB suggests that there will be less of another large ( 36th place in Russia) private bank in Russia.

Artem Gubenko, The Bell