VTB shareholders approve merger with Post Bank

MOSCOW. Feb 20 (Interfax) - VTB shareholders have approved a merger with Post Bank, VTB said in information.

Post Bank was established by VTB and Russian Post in 2016 as a retail bank with an extensive regional network based at post offices. VTB consolidated 100% ownership of Post Bank at the end of 2024. The merger should be complete in May 2026 when Post Bank starts to operate under the VTB brand.

"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. Post Bank has the biggest network in the country, consisting of 25,000 locations in 83 regions, and is an enormous resource for development, especially in smaller towns," VTB Deputy CEO Dmitry Pyanov was quoted as saying.

He said Post Bank's offices had all been rebranded and they all now operate under the VTB brand.

"We expect steady year-on-year income growth due to higher sales and cost optimization, which will enable us to set quite ambitious profit targets in the medium term," Pyanov said.

VTB merged with Russian National Commercial Bank (RNCB), which is the biggest bank in Crimea, in June 2025.

Post Bank, with assets of 334.5 billion rubles, was 29th in the Interfax-100 ranking of the country's major banks in 2025.