Russia’s Expobank Finalizes Merger With Hyoya Bank Of HSBC

Russia’s Expobank finalizes merger with Hyoya Bank of HSBC

Russia's Expobank has stated that it has finalized its merger with Hvoya Bank, a former Russian unit of HSBC Bank. HSBC transferred ownership of Hyoya to Expobank for an undisclosed fee in May, after receiving the requisite approval from President Vladimir Putin, ending around two years of negotiations and uncertainty.

The move boosted Expobank’s capital by 48 percent to 56 billion rubles and assets by 44 percent to 256 billion rubles since the beginning of the year.