ICB will acquire Far Eastern Bank

Moscow Credit Bank plans to acquire the Far Eastern Bank by the end of the year. Decision on reorganization and additional share issuance will be considered at an extraordinary meeting of the MCB shareholders scheduled for May 25. Experts do not expect a significant improvement in the MCB's balance sheet as a result of the transaction, but they note that the acquisition of the Far Eastern Bank will help optimize expenses and strengthen the company's position in the Far East.