Bank Rossiya’s 100% subsidiary, Sobinbank, could merge with the parent company, Sobinbank’s potential client who tried to open a corporate bank account at the lending institution told Bank Rossiya and Sobinbank did not confirm this information.

According to the entrepreneur, he was insistently recommended not to open a bank account at the lending institution as “the bank will soon merge (with Bank Rossiya — editorial note) and all tariffs will be invalid”.

Sobinbank’s call center failed to specify whether corporate tariff plans are expected to be modified. Bank Rossiya’s press service told that “a number of procedures related to the bank’s business optimization efforts are being carried out at Sobinbank, the major shareholder of which is Bank Rossiya”. However, Bank Rossiya did not comment on the potential merger with the subsidiary.

An executive at Yury Kovalchuk’s bank confirmed in an interview with that Sobinbank has been streamlining its business, but “heard nothing” of any decisions to bring the parent company and the subsidiary under one roof.

Bank Rossiya already intended in summer 2011 to take over the subsidiary, but abandoned these plans in November 2011. At that time it was decided to put off the merger of the lending institutions by several years.

Sobinbank turned out to be on the verge of bankruptcy in August 2008. Gazenergoprombank bought 100% of its shares at that time. Gazenergoprombank was taken over by Bank Rossiya, and Yury Kovalchuk also gained Sobinbank.