Interros to provide for continuity in Rosbank management team

MOSCOW. April 11 (Interfax) - After the purchase of Rosbank and the insurance assets of France's Society Generale in Russia, Interros intends to ensure the continuity of the management team headed by Rosbank CEO Ilya Polyakov, the lender said in a statement.

The closing of the deal should take place within a few weeks following all necessary regulatory approvals.

Rosbank would remain the preferred partner of Societe Generale and will continue to follow high international standards of corporate governance and risk management, the lender said.

The bank has a well-balanced loan portfolio and a diversified liquidity base. Robust mechanisms are in place to maintain the continuity of operations and manage cybersecurity risks; the bank's activities comply with all regulatory requirements.

Being part of Interros, Rosbank would ensure integrity of its operations and realize potential for further development, the statement said.

Rosbank is included in the list of systemically important credit institutions of Russia; according to 2021 results, it ranks 11th by assets in the Interfax-100 ranking. Societe Generale owns over 99% of Rosbank.

Rosbank's assets to IFRS for 9M 2021 amounted to 1.4 trillion rubles (the bank has not yet disclosed statements for the year), with capital of 200.7 billion rubles. Net profit for January-September last year amounted to 15.5 billion rubles.