Eurasian Bank of Eurasian bank

Eurasian Bank PJSC is a Moscow bank that is a subsidiary bank of a Kazakhstan credit organization - Eurasian Bank JSC. General Banking Licence No. 969 of 10.02.2015. 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 PJSC Eurasian Bank became a new participant in the international money transfer service Golden Crown. The bank's offices are represented in Novosibirsk and Omsk.

History

2021: Start of 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 completion of reorganization procedures."

The Central Bank of the Russian Federation announced the beginning of the procedure for joining the Eurasian Bank to Sovcombank

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

It is also noted that the size of the authorized capital of Sovcombank following the results of 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 Kazakhstani Eurasian Bank JSC. The parties did not disclose the financial component of the transaction.

Sergey Khotimsky, co-owner and first deputy chairman of the board of Sovcombank, 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 institute of Kazakhstan to implement joint projects.

In turn, for our partners from the Eurasian Bank, this is a good opportunity to leave the highly competitive banking market of Russia and concentrate on the main business in the key presence market, "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 NKR Managing Director Mikhail Doronkin explained to Kommersant, the acquisition by a large federal player of a bank outside the top 200 in terms of assets is usually not related to obtaining synergy or entering new segments, but is aimed at generating profit due to the occurrence of negative goodwill, that is, the purchase of a credit institution with a discount on capital.^[1][2]

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