VTB absorbs 1.3 million Post Bank loans in major integration push
VTB is moving forward with the integration of Post Bank's retail loans into its system. The process began in early March and involves transferring 1.3 million loan agreements. Customers affected by the change must take action to ensure their repayments continue smoothly. The transfer of Post Bank's retail loans started at the beginning of March. VTB has already shifted half of the agreements as part of the ongoing integration. The entire process is automated, with both banks handling the transition without requiring direct customer involvement.
All existing loan terms for Post Bank's retail customers will stay the same after the move. However, borrowers must open a new account with VTB to keep making repayments. The full integration of Post Bank into VTB is set to finish in May. Once completed, the transfer will see 1.3 million loan agreements under VTB's management. Customers will need to ensure they have a VTB account to avoid disruptions. The banks have confirmed that no changes will be made to the original loan conditions.