FAS has approved the attachment of the Bank”, “Binbank Capital” and “b & n Bank Murmansk” for “MDM Bank”

The Federal Antimonopoly service (FAS) of the Russian Federation agreed on the accession “of the Bank”, “Binbank Capital” and “b & n Bank Murmansk” for “MDM Bank”. This was reported by the press service of “Binbank”.

Earlier, a group “Bin” appealed to the FAS with two petitions in which there are two types of legal enterprises of Binbank, and MDM Bank. In the first case, “Binbank” join “MDM Bank”, in the second case, “MDM Bank” will join the “Bin”. Regardless of the chosen scheme of legal merger the combined Bank will continue to work under the brand of “Binbank”.

“FAS has approved the first application involving the joining MDM Bank” “Binbank”, and two other banks within the group: former Europlan Bank” (now “Bank Capital”) and “b & n Bank Murmansk. Soon the group “Bin” awaiting approval of a second petition – joining the “b & n Bank” MDM Bank” and the other two of these banks”, – stated in a press release.

The final choice of enterprises will be made at the extraordinary General meeting of shareholders of the Bank on 7 October. As indicated in the message, according to preliminary estimates, for the group “Bin” preferably agreed today FAS scheme, as it will allow you to quickly complete the merge process.

In 2016 to the “Bin” was joined by three of the Bank “Cedar”, “Smolensk Bank” and “Bank Surgut, as well as ended technological integration “of the Bank” card and its “daughter” – “b & n Bank credit cards”. She continues to work as an independent legal entity, but from a technological point of view is fully integrated into the “Bin”. In November 2016 it is planned to complete the joining to the Bank” “Binbank Tver’.

In parallel with these integration processes “MDM Bank” was carried out preparations for unification on the balance sheet of the two largest Bank group, which plans to complete the merger before the end of 2016

“At the moment, Binbank, and MDM Bank are already working in the framework of a unified management system and unified product line”, – specifies a press-service of “Binbank”.

We will remind that in the end of June 2015. “MDM Bank” “Binbank” has officially announced that the shareholders of “Binbank” Mikail Shishkhanov, Mikhail Gutseriev signed an agreement to acquire a controlling stake of MDM Bank Sergey Popov. In mid-July of the same year, Mikail Shishkhanov was elected Chairman of the Board of MDM Bank, in August 2015, the FAS has satisfied the petition of the Cyprus shareholder structure of Binbank about buying 75.405% of the voting shares of MDM Bank Sergey Popov. As part of the transaction of 100% shares of MDM Bank was valued by the parties at the level of about capital of the credit institution.

FAS has approved the attachment of the Bank”, “Binbank Capital” and “b & n Bank Murmansk” for “MDM Bank” 31.08.2016

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