Russian government considered it expedient to create Post Bank in partnership with the VTB banking group on the basis of Leto Bank. Minister of Communications Nikolay Nikiforov is named as the main candidate for the post of chairman of the board of directors of Post Bank.

Nikiforov is said to solve a number of problems by September 15. The first — to create Federal State Unitary Enterprise "Russian Post" subsidiary, which buys 50% minus 1 share of will-be Post Bank.

Nikiforov is also tasked to ensure the signing of a shareholders' agreement with VTB Group, which will provide participants with an equal voice on key issues of Post Bank functioning and the transfer of operational control over it to VTB Group. Thus, VTB Group will have the final say in the appointment of Post Bank's management. "At the same time the government considered it appropriate in the formation of the Board of Directors of Post Bank to appoint Nikolai Nikiforov as the Chairman of the Board", — said government official.

Another important task of Nikiforov will be to define the size of the infrastructure payment that "Russian Post" will receive from the joint venture's "daughter" from the VTB Group in 2016-2023.

Nikiforov on his part expressed a hope that all the agreements related to the creation of Post Bank, he will be reached this year, and that the bank starts running in 2016.