RIA NOVOSTI. The Federal Anti-Trust Service (FAS) of Russia authorized Otkritie Commercial Bank to take over Sverdlovsky Gubernsky Bank, RIA Novosti reported.
“In accordance with Article 27 and Article 33 of the Federal Law (…) “On Protecting Competition”, clause 1 of the Russian government’s order (…) “On Setting Amounts of Assets of Lending Institutions for the Purpose of Anti-Trust Control”, FAS reviewed a request seeking to fold Sverdlovsky Gubernsky Bank into Otkritie Commercial Bank and decided to satisfy this request," the anti-trust authority said in a statement.
On October 1, 2010 the Bank of Russia announced the completed merger of Otkritie Commercial Bank (Moscow), Otkritie Investment Bank (Moscow) and Bank Petrovsky (Saint Petersburg). The takeover of Sverdlovsky Gubernsky Bank will be carried out in 2011. Otkritie Commercial Bank will become a Top 30 lender in Russia after the merger.
