5 Apr 2022 09:28

VTB sells Multibonus to Pochta Bank

MOSCOW. April 5 (Interfax) - Russian state bank VTB has sold Multibonus to Pochta Bank as part of the further development of the latter's loyalty programs and launch of new projects, VTB said.

Current loyalty programs continue to operate without any changes.

"The acquisition of technology company Multibonus is another step toward changing the structure of Pochta Bank's business. We have moved from a monoline lender strategy to a daily banking model, offering clients a broad range of convenient and attractive services for daily banking," Pochta Bank told Interfax.

The acquisition of Multibonus will enable the bank to actively develop and launch new products and loyalty programs for everyday use, including for young people, the lender said.

"We plan to develop this area further, expanding the scope of Pochta Bank's interests both through internal resources and cooperation with Pochta Bank, and the purchase of a ready business. Pursuing this logic, we recently acquired the Smartbilet electronic system for selling tickets and developing a 'collective purchasing' service for theater and movie tickets with Pushkin cards for young people aged 14 to 22 years," the bank said.

The Multibonus loyalty program offers points, miles or bonus rubles on purchases made with VTB and Pochta Bank cards. These bonuses can be exchanged for goods, travel and entertainment options from an online catalog or transferred in money to the card.

Multibonus closed 2021 with a net profit of 90.5 million rubles on revenue of 745.3 million rubles, compared to 125.1 million rubles on 467 million rubles in 2020, the SPARK-Interfax system showed.

VTB reduced its stake in Pochta Bank to less than a controlling interest in February by selling two shares to Pochta Bank CEO Alexander Pakhomov, and it now holds 50% minus two shares.