Rosbank Auto (formerly Rusfinance Bank, RBF)

History

2022: Rusfinance buys 7.5% of Rosbank shares

The investment company Rusfinance received 7.5% of Rosbank at its direct disposal, follows from the materials on the information disclosure server by September 24, 2022. The founder of Rusfinance LLC is Rosbank. Read more here.

2021: Completion of joining Rosbank and formation of Rosbank Auto

On March 1, 2021, Rosbank completed the reorganization procedure in the form of the merger of Rusfinance Bank LLC. The corresponding record on the reorganization of ROSBANK PJSC and the termination of the activities of the organization controlled by the issuer is entered in the Unified State Register of Legal Entities.

The decision to join was made taking into account the successful experience of integrating the mortgage business and the formation of unified centers of expertise in Rosbank. Along with the reorganization, a branch of Rosbank Auto was created in the bank, which provides a full range of car loan services, relying on the many years of expertise of Rusfinance Bank LLC, one of the players in the Russian car loan market.

The simplified structure of Rosbank, taking into account the creation of the Rosbank Auto branch, opens up new opportunities for car loans to customers and partners, access to all services and services of a universal bank, as well as leasing products and long-term car rental.

The concept of "Auto" reflects the essence of the ecosystem, which provides access to a wide range of services and products related not only to the purchase of a car, but also to comfortable further use of it. marketplace for remote booking and buying cars for cash or credit, the ability to online apply for a car loan and insurance products, a selection of offers from maintenance partners, a remote estimate of the cost of a vehicle and many other options.

After the merger of the subsidiary, Rosbank became the legal successor to all the rights and obligations of Rusfinance Bank. The format and terms of service for customers have not changed.

2020: Amalgamation with Rosbank

The logo of Rusfinance Bank in 2018.

As it became known on November 3, 2020, Rosbank will join Rusfinans Bank, which is engaged in car loans. The association of credit institutions is aimed at improving the efficiency of retail business.

The fact that Rosbank, part of the French group Societe Generale (SG), will merge with a subsidiary of Rusfinans Bank by mid-2021, Kommersant reports with reference to the chairman of the board of Rosbank Ilya Polyakov. According to him, joining will provide more resources for the growth of the car loan business in the future, as well as to reduce the time for launching new products and services on the market and their digitalization, and simplifying the structure will increase the profitability of the business. The format and terms of service for customers will remain the same.

Rosbank joins Rusfinance Bank

According to experts interviewed by the publication, in the current unstable economic conditions, the merger is the right step. This will reduce the group's operating costs and increase cross-selling opportunities. Optimizing costs by combining business areas will increase operational efficiency and maintain profitability, they are sure.

According to Fitch Ratings, the group's consolidated expenses should be reduced in the future, plus Rosbank's capital will grow significantly as a result of the merger. The regulatory burden is also significantly reduced, experts say. If the two banks are combined, then the capital base is growing, this suggests that lending volumes may increase, they note. Annual savings after the merger can be more than 100 million rubles. These are savings excluding the costs of the bank's technical and software, experts explained.

Shareholders of Rosbank on December 17, 2020 will consider the issue of joining Rusfinance Bank to it and sending a notification to the Central Bank about the start of the reorganization procedure.^[1]

2006: Name change to Rusfinance Bank

Until 2006, the bank was called Promek-Bank CB LLC. After the completion of the transaction with Rusfinance in 2006, the name of the bank was changed to Rusfinance Bank.

2005: Purchase of Promek-Bank by Société Générale

In 2005, Promek-Bank was acquired by Rusfinance, a subsidiary of the French Société Générale group.^[2]

Notes