VTB Bank agreed with the government on a deal to buy out a stake in Post Bank from Russian Post, Interfax writes. According to the head of the bank, Andrey Kostin, the deal will be beneficial to both parties.
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VTB representatives noted that the acquisition of a stake in Post Bank is beneficial to the organization from the point of view of strategic development, and to Post from the point of view of the further functioning of the bank. Earlier, VTB First Deputy Chairman Dmitry Pyanov noted that the credit institution is discussing the issue of integrating Post Bank into its structure on the horizon in 2026.
Currently, the regional network of Post Bank includes 25 thousand service points in 83 regions of the Russian Federation, most of which are located at post offices. Pochta Bank's active client base includes 8.6 million people. VTB and Russian Post have equal shares in the capital.
“Pochta Bank is not able to finance, for example, such a loyalty program as VTB finances; it is not able to have such an IT budget for various products and advertising. All of these elements are critical to the continued, profitable development of a growing retail business. Therefore, within VTB Bank we are seriously discussing the option of integrating Pochta Bank into the VTB structure at some point in time, when we merge Otkritie, BM-Bank and RNKB,” Pyanov noted.
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