THE CENTRAL BANK ALLOWED SOVCOMBANK TO BUY HOME BANK

The Bank of Russia has given Sovcombank permission to acquire Home Bank. Earlier, the deal was also approved by the Federal Antimonopoly Service (FAS).

"Home Bank will be consolidated in the international financial reporting standards of Sovcombank for the 1st quarter of 2024, which the Bank plans to publish in May 2024. At the same time, technically, the transaction will be closed after registration of an additional issue to pay for the purchase of a Home Bank," the press service of Sovcombank said.

As noted in the credit institution, the focus of the merger will be aimed at maintaining and increasing the expertise of Home Bank in commodity lending. In addition, the focus will be on expanding the customer base.