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The group Societe Generale and Interros company agreed to merge Rosbank and other Russian subsidiaries of Societe Generale said in the joint press release.
Two universal banks - Rosbank and Societe Generale Vostok (BSGV) - will be merged into a single structure with preservation of two independent brands.
Two specialized companies - Rusfinansbank (consumer credit) and DeltaCredit (mortgage) - will become 100% subsidiaries of a new structure. Both retain positions in their sectors, while at the same time providing cross-selling products of the new unified structure.
After approval by the relevant authorities Societe Generale will own 81.5% in the new bank. The remaining shares are mainly owned by the Interros group, said in a press release.
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