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19 February 16:37
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VTB to absorb Post Bank in major restructuring move
VTB will be reorganized through the merger with Post Bank, a decision approved by shareholders, according to a VTB press release.
"The merger with Post Bank completes a series of integrations that have enabled us to build a unified, large-scale customer service platform in Russia," the statement said.
Post Bank has a network of 25,000 branches across 83 regions. Following the rebranding, all Post Bank offices will operate under the VTB brand with "unified service standards and product offerings."