The procedure for reorganizing Moscow-based N-Bank and Bank Baltica by folding them into Bank Enisei has begun, the Bank of Russia’s press service reported.

In late December 2014 Bank Enisei shareholders greenlighted a merger deal, as part of which Bank Baltica’s branches will be transformed into those of Bank Enisei. The bank’s new headquarters will be in Moscow, while facilities in Krasnoyarsk, which were previously used as Bank Enisei’s head office, will turn into a branch.

“To observe equal rights of the shareholders of all lending institutions that participate in the reorganization, together with the decision to reorganize them, it will be decided to split Bank Enisei’s common registered shares and preferred registered shares," the lending institution reports.