Tinkoff Bank is planning to merge with the structures of Rosbank

Tinkoff Bank is planning to merge with the structures of Rosbank

The Board of Directors of Tinkoff Bank will offer shareholders to consider plans for integration into the structure of Rosbank. This is reported by RBC with reference to the statement of the Chairman of the Board of Directors Alexei Malinovsky. Both Tinkoff Bank and Rosbank now belong to the same owner – the legal entities of billionaire Vladimir Potanin.

An extraordinary meeting of shareholders will be convened to consider integration plans. They will have to vote for Rosbank’s entry into the TKS Holding group, which owns Tinkoff Bank.

Malinovsky said that the merger will significantly strengthen the group’s position on the financial market. It will enter the top 5 Russian credit institutions both in terms of the balance of the population’s assets and the size of the loan portfolio and total capital.

TASS reports that upon integration, two banks can create a banking group, while each of them will retain its license and name.

  • Tinkoff Bank was founded in 2007 by entrepreneur Oleg Tynkov and became one of the most successful banks in Russia. In 2020, Oleg Tynkov left the post of general director of the bank, in 2021 he sold his Russian assets. In February 2022, he condemned Russia’s military invasion of Ukraine and announced that he had renounced Russian citizenship. In January 2024, the Ministry of Justice declared Tynkov a so-called foreign agent.

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