Eurasian Bank Sold its Subsidiary in Russia to Sovcombank
Almaty, 30 December 2020
Eurasian Bank JSC announces that the transaction on sale of 100% shares of its subsidiary bank (Eurasian Bank JSC) in the Russian Federation to the buyer – Sovcombank PJSC – was successfully closed on 29 December.
We remind that on 3 December 2020 Sovcombank and Kazakhstan’s Eurasian Bank entered into a binding agreement on the purchase of Eurasian’s subsidiary in Russia.
The CEO of Eurasian Bank of Kazakhstan Valentin Morozov noted that the sale of the Russian asset is part of the Bank’s strategic plan. Eurasian Bank will continue to develop business in Kazakhstan, as well as in neighboring countries of Central Asia.
Eurasian Bank JSC is a socially important commercial bank of Kazakhstan with a 25-year history of development. It is among the ten largest banks in the country in terms of assets, holds leading positions in the retail banking market, provides a wide range of services to corporate clients and SMEs. The Bank’s sole shareholder is Eurasian Financial Company JSC, owned by the main owners of ERG, a large international diversified company, which includes one third of the mining and metallurgical complex of Kazakhstan.
Eurasian Bank PR Service
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