Bank merger allowed by competition watchdog

The Financial and Capital Market Commission (FKTK) approved the merger of Signet Bank and Expobank, the commission said on July 11.

As of Monday, the operations of the two banks will be merged into a single credit facility that will work under the name of Signet Bank after completing all legal formalities.

On January 26, the acquisition deal in which Signet Bank bought Expobank was concluded. Signet Bank considered future development scenarios and decided to merge the operations of the two banks, working under the name of Signet Bank.

The FKTK draws attention to the fact that the clients of both banks retain all their current obligations and rights arising from the contracts, only the current customers of Expobank will experience a change in the name of the bank.

 

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