Bank FK Otkrytiye : The merger of Otkritie Bank and B&N Bank proved to be successful

The current experience and best practices allowed the Otkritie Bank team to implement a project on merger of two largest banks within short timeframes.

In just 9 months, the team of Mr. Mikhail Zadornov managed to restore and combine two businesses which are completely different in structure, technologies and banking products, simultaneously solving the task of developing the customer base. On January 1, 2019, B&N Bank and B&N Bank Digital joined Otkritie Bank. As a result of the merger, a new reliable and modern bank entered the market, with an active client base of 200,000 legal entities and 4 mln individuals, and regional network of 747 offices and 6,000 ATMs in 250 cities in 70 regions of Russia. Clients gained access to new products and services of the merged bank.

"The merger of banks is an extremely important and challenging task for everyone involved in its implementation. Due to the professionalism of the unified team, integration during the New Year holidays was successful. On the first business day of the oncoming year, all services and systems of the united Otkritie Bank worked for clients as usual. B&N Bank clients encounter only account details changes: name of the bank/branch, BIC, correspondent account. At the same time, the former bank details will be available within three months," said Mr. Aleksandr Pakhomov, a Member of the Management Board and Head of the Otkritie regional network management unit.

According to Mr. Aleksandr Pakhomov, in 1Q 2019, the Bank will perform a rebranding and integrate all the offices in the Rostov Region under the Otkritie brand. During 2019, the former B&N Bank branches will join the main Otkritie branches. By the end of 2019, the structure of the network of the united Otkritie Bank will include one main branch per federal district.

The strategy of the merged bank provides the further growth of the client base and its share in the Russian banking market. By 2020, Otkritie Bank's network will cover 73% of the urban population (103 mln people) in Russia. As part of the network development, offices will be opened in 4 new constituent entities of the Russian Federation: the Republic of Sakha (Yakutia), the Kamchatka Territory, the Republic of Adygea, and North Ossetia-Alania. The Bank plans to increase its profit up to RUB68 bln.