Yandex Bank appeared in Russia

Internet giant Yandex has renamed Bank Akropolis into Yandex Bank JSC.

The bank received the new name on 28 September.

“The rights and obligations of the bank in relation to customers and partners won’t be changed, all contracts and terms of service will remain in effect,” the website of the Commercial Bank Acropolis informs.

Yandex closed the all-stock deal in mid-July 2021. The transaction amount was 1.1 billion rubles, of which 75 million rubles was an equity premium for the acquisition of the bank.

As a result of the deal, the Internet company received a banking license, which will help to develop the fintech area and launch products for users in this area.

Source: Interfax

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