J&T BANKA obtains approval necessary for sale of its assets in Russia

Yesterday, the Office of the President of the Russian Federation granted approval for sale of the subsidiary J&T BANK AO to the Russian holding company Bjurokrat, which owns the local bank Realist. The negotiations, which are still ongoing, can thus move to the next phase and await approval of the management and controlling bodies of both companies’ shareholders.

“I am very pleased that this challenging process requiring compliance with legal regulations in both Russia and the European Union is moving forward and that we are one step closer to exiting Russia. I believe that we will be able to close the transaction in the near future,” comments Igor Kováč, member of the Board of Directors of J&T BANKA.