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Sarovbusinessbank

Company

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Owners:
VTB - 81%
Revenue millions

Owners

JSB Sarovbusinessbank is registered on August 28, 1992 in the form of private company.

History

In October, 2018 VTB reached the agreement with shareholders upon acquisition of 81% of stocks  of one of banks of the Nizhny Novgorod Region of Sarovbusinessbank. The corresponding memorandum was signed by the parties, told in the press service of VTB.

Participants are going to close the transaction until the end of the current year after receiving all necessary regulatory approvals and corporate solutions of VTB bank. The final size of the purchased share will be determined after the obligatory offer to minority shareholders about redemption of stocks.

After closing of the transaction steps will be determined by further integration of banks which is planned to end in 2020 when Sarovbusinessbank passes under a brand of VTB. The strategy of its development will assume further gain of positions of the united bank in the market of the Nizhny Novgorod region.

Before integration of banks of the party intend to save key products and services which clients of Sarovbusinessbank – both physical, and legal entities use. At the same time products of VTB Group in an insurance field, provision of pensions will be offered clients of Sarovbusinessbank. Work on integration of ATM networks, synchronization of crucial elements of business processes using technological capabilities of VTB Group will be carried out. The command of bank having extensive work experience in the Nizhny Novgorod Region will be saved.


In 2000 closed joint stock company is transformed to joint stock company.