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Russia's Promsvyazbank, Vozrozhdenie postpone merger - PSB
October 27, 2017 / 8:28 AM / 2 months ago

Russia's Promsvyazbank, Vozrozhdenie postpone merger - PSB

MOSCOW, Oct 27 (Reuters) - Shareholders of Promsvyazbank , Russia’s tenth largest lender by assets, and its smaller rival Vozrozhdenie decided to postpone an expected merger of the two banks, Promsvyazbank said on Friday.

Promsvyazbank (PSB) and Vozrozhdenie, ranked Russia’s 32nd largest lender by assets, will continue to operate as two separate banks, PSB said in a statement.

PSB said both banks were profitable and stable, with sufficient capital and liquidity. (Reporting by Andrey Ostroukh; editing by Katya Golubkova)

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