PRIME-TASS. Bank Rossiya and Gazenergoprombank have finalized the merger procedure, Prime-TASS reported.

An entry about the terminated activities carried out by Gazenergoprombank, which was reorganized in the form of a takeover by Bank Rossiya, was made in the Unified State Register of Legal Entities on August 2, 2010.

As the media reported earlier, in May shareholders meetings held by Bank Rossiya and Gazenergoprombank gave the green light to the merger. The merger will form a lender that will become a major lending institution in Russia and will operate on the market under the single brand of Bank Rossiya. Since the time when the merger procedure is complete, Bank Rossiya will become a successor of Gazenergoprombank under all rights and obligations. All the obligations assumed by Gazenergoprombank will stay in force.

The merger is being carried out in the interests of customers and shareholders and aims to bolster reliability and financial strength of the bank, improve the quality of services provided and strengthen market positions. The merged bank’s branch network will span 18 regions in European Russia.