Eurasian Bank Eurasian Bank

PJSC Eurasian Bank is a Moscow bank that is a subsidiary bank of a Kazakh credit institution - Eurasian Bank JSC. General Banking License No. 969 of 10.02.2015. The key areas of activity are servicing and lending to large corporate clients. Credit rating of the agency RAEX ("Expert RA") on the national scale: A "High level of creditworthiness," the forecast for the rating is "stable."

In the fall of 2015, the capital's PJSC Eurasian Bank became a new member of the Golden Crown international money transfer service. The bank's offices are represented in Novosibirsk and Omsk.

History

2021: Start of the procedure for joining Sovcombank

At the end of April 2021, the Central Bank of the Russian Federation announced the beginning of the procedure for joining the Eurasian Bank to Sovcombank. According to preliminary estimates, the reorganization will last until the end of June 2021, but banks warn that the deadlines may change "upon the passage of reorganization procedures."

The reorganization is aimed at simplifying the ownership structure, consolidating the capital of banks, achieving the most efficient use of their assets, increasing the competitiveness and quality of services provided in the banking market, streamlining management and reducing costs, Sovcombank and Eurasian Bank reported.

It is also noted that the size of the authorized capital of Sovcombank following the reorganization will not change.

2020: Sovcombank bought Eurasian Bank

On December 4, 2020, Sovcombank announced the purchase of a 100% stake in the Russian subsidiary of the Kazakh Eurasian Bank JSC. The parties did not disclose the financial component of the transaction.

Co-owner and First Deputy Chairman of the Board of Sovcombank Sergey Khotimsky called the purchase of the Eurasian Bank an important step towards developing the bank's interests in the CIS countries and, in particular, working with a large financial institution in Kazakhstan to implement joint projects.

In turn, for our partners from the Eurasian Bank, this is a good opportunity to get out of the highly competitive banking market in Russia and concentrate on the main business in the key market of presence, he said.

According to Khotimsky, Sovcombank does not plan to buy assets in Kazakhstan, but is aimed at developing partnerships between banks to serve large corporate clients in this country and Russia.

As Mikhail To the businessman NKR Doronkin, Managing Director, explained, the acquisition by a major federal player of a bank outside the top 200 in terms of assets is usually not associated with obtaining synergy or entering new segments, but aims to make a profit due to the emergence of negative goodwill, that is, buying a credit institution at a discount to capital.^[1][2]

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