MTS Bank still planning M&A in 'complementary' sectors

SOCHI. Oct 18 (Interfax) - MTS Bank still has plans to carry out mergers and acquisitions in sectors that are "complementary" to its business, CEO Ilya Filatov told Interfax.

The bank raised 11.5 billion rubles in an initial public offering in April. Its management said MTS Bank might use this money to buy assets and that it saw several interesting options.

There are deals "in the pipeline, but given the current realities I can't name names," Filatov said on the sidlines of Finopolis 2024.

"These are companies that are complementary to us. We're considering banks and insurance companies and fintech companies, leasing," he said.

However, MTS Bank does not plan to buy loan portfolios from other banks. "No, because at the current rate there will be a big discount," Filatov said.

MTS Bank was Russia's 23rd largest bank by assets at the end of the second quarter of 2024, according to the Interfax-100 ranking.