Mergers and Acquisitions
VTB Bank took over 12 banks over the decade between 2002 and February 2012, including four in Russia, three in Europe and five in the CIS:
• Guta Bank (2004), later renamed VTB24
• Armsberbank in Armenia (2004), later renamed VTB Armenia
• Promstroybank (2005), renamed Bank VTB North-West and later reorganised as VTB’s North-Western Regional Centre
• Eurobank in France (2005), later renamed VTB France
• in Great Britain (2005), later renamed VTB Europe Plc, and then Plc
• Ost-West Handelsbank AG in Germany (2005), later renamed VTB Germany
• United Georgian Bank (2005), later renamed VTB Georgia
• Mriya in Ukraine (2006), later merged with VTB Ukraine
• Slavneftebank in Belarus (2007), later renamed VTB Belarus
• AF Bank in Azerbaijan from AF Holding International (2008), later VTB Azerbaijan
TransCreditBank
VTB Bank bought a 43.18% stake in TransCreditBank (TCB) from RZD in December 2010. In July–August 2011 VTB increased its stake in TCB to 74.48% following a second acquisition, and to 77.79% in February 2012. VTB paid 46 billion roubles ($1.5 billion) for the asset, with a capital multiplier of 1.64. In September 2012, VTB bought more TCB stock from RZD, boosting its interest in the lender to 99.6%.
Bank of Moscow
In February 2011, VTB Bank bought a 46.48% stake in Bank of Moscow which was owned by the Moscow government, as well as 25% plus one share of Capital Insurance Group, which owned 17.32% of Bank of Moscow, for a total purchase price of 103 billion rubles (over $3 billion). In September 2012 VTB gained control over Bank of Moscow with more than 95.50 percent of the shares.
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