VTB Bank (public joint-stock company) (MISX:VTBR) agreed to acquire Public Joint-Stock Company Bank Otkritie Financial Corporation from Central Bank of the Russian Federation for RUB 340 billion on December 22, 2022. The shares of Bank Otkritie Financial Corporation (Public Joint-Stock Company) are paid for with cash in the amount of 233,126,864,828 rubles 15 kopecks, as well as with federal government bonds, the value of which is calculated using market prices and amounts to 106,873,135,171 rubles 85 kopecks. The Supervisory Board of VTB Bank (PJSC) also approved the transaction.

Chief Executive Officer Mikhail Zadornov will leave Otkritie FC Bank from January 1, 2023, and can be replaced by the former Chief Executive Officer of UniCredit Bank and former Deputy Chairman of the central bank Mikhail Alexeyev. The parties agreed that the title to shares of Bank Otkritie Financial Corporation (Public Joint-Stock Company) will be transferred to VTB Bank (PJSC) no later than 31 December 2022 provided that VTB Bank (PJSC) fulfils its obligations to pay in full.