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Provider: Reuters Investment Profile
Provider: Wright Reports
Provider: Investcafe
Provider: Investcafe

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Bank Sankt-Peterburg OAO completes acquisition of Bank Evropeisky

Monday, 10 Feb 2014 07:00pm EST 

Bank Sankt-Peterburg OAO:Says that on Feb. 10 it has completed a transaction on acquisition of a 100 percent interest in Bank Evropeisky (Kaliningrad).Says sale and purchase agreement was signed on Jan. 23.Says Bank Evropeisky is currently operating on the market as a subsidiary of Bank Saint Petersburg.Says the decision to acquire the business of Bank Evropeisky is based on the development strategy for the upcoming 4 years adopted in Nov. 2013.Says with the acquisition of Bank Evropeisky Bank Saint Petersburg through its branch network and customer base will boost SME lending as well as retail business in the region and control over 10 percent of the banking services market in Kaliningrad and the Kaliningrad Region. 

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