/ world today news/ Russian Credit Bank wants to acquire 100% of the capital of Trade Bank “Victoria” (part of the Corporate Trade Bank group), reports in tomorrow’s edition of the newspaper “Duma”, citing sources from the financial circles.
The Russian bank has today submitted a letter of intent to the Ministry of Finance (MoF), the Bulgarian National Bank (BNB) and Victoria Bank. The letter has the incoming number of MF 17-00-271/17.10.2014. It expresses readiness to start a procedure and start negotiations for the acquisition of the property of TB “Victoria” EAD (former “Credit Agricol Bulgaria” EAD). The management of the Russian bank declared that it is ready to immediately fulfill all the instructions and requirements of the BNB for starting negotiations on the purchase of “Victoria”, as well as to present guarantees for its intentions. Several documents are attached to the letter, including the company’s identification (current status) and financial statements as of December 31, 2013 and June 30, 2014.
The managers of Bank Rossiyski Kredit also state their permanent investment intentions in the field of the banking, financial and capital market in Bulgaria.
“We show a consistent and lasting interest in the banking and capital market in Bulgaria and we would very much hope for the existence of a potential opportunity for our participation in it,” the letter also states.
We await your decision and declare our readiness for a meeting and discussion on issues related to the potential purchase of TB “Victoria”, as well as taking immediate actions in accordance with your recommendations and directives, it is concluded in the letter of intent filed yesterday by Bank Rossiyskiy credit.
Soon, the Russian bank will present its team for the initiation of negotiations and procedures, which will also give an official press conference.
Bank Rossiyskiy Kredit was established in 1990. It developed as a classic investment bank. Since 2008, it has been in the top 20 of the leading organizations of bond loans in rubles. It is a member of the Russian Stock Exchange and the National Depository, has accreditation in the stock section of the Moscow Interbank Currency Exchange.
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