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Rosbank and Credit Bank of Moscow have agreed on the sale of Inkakhran, as part of the refocusing of Rosbank on the development on its core businesses

Rosbank has signed the sale of its cash in transit business, the company Inkakhran, to Credit Bank of Moscow (CBM). The transaction is subject to regulatory approvals and is expected to be closed before the end of 2015.

Relying on the network of cash in transit business built successfully over the last 15 years by Inkakhran in more than 20 regions, CBM will be able to accelerate its development in this market segment while continuing with Inkakhran to serve Rosbank and its Clients at the same level of service.

The targeted cession gives Rosbank additional means to continue its redeployment and focus its efforts and investments on developing Clients servicing on its core business segments.

"The sale of Inkakhran is part of the ongoing implementation of Societe Generale strategic plan in Russia. Our current key objective is the focus on our core businesses in the Russian market to which the Group is fully committed", commented Didier Hauguel, Chairman of the Board of Directors of Rosbank and Societe Generale Country Head for Russia.

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