28 Dec 2022 10:23

Most of Otkritie management board to leave bank at end of 2022 - CEO

MOSCOW. Dec 28 (Interfax) - The current management board of Otkritie Bank will stop its work on December 31, the Russian lender's president and CEO, Mikhail Zadornov said on Tuesday.

"The lion's share of the bank's management board is leaving and we must seamlessly hand over affairs," Zadornov told reporters. "This cohort of the management board finishes its work on the 31st," he added.

The Central Bank of Russia (CBR) announced on Tuesday that it has transferred 100% of Otkritie Bank to state bank VTB . VTB is expected to pay 340 billion rubles for Otkritie.

Zadornov will step down as CEO of Otkritie as of January 1, 2023, VTB said earlier. He will be replaced by former Unicredit Bank head and former CBR deputy governor Mikhail Alekseyev.

"In terms of my plans, it's still early to say publicly. We need to close the current year and ensure the continuity of the business," Zadornov said.