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A major bank will be 100% owned by the Russian government

Nikolai Podguzov, Russian Post’s CEO, was received by Vladimir Putin to brief him on the company performance, presidential website reports.

“At the end of 2018, the company’s revenue and net profit reached a historical high of RUR 190 bln ($3 bln) in revenue and RUR 2.7 bln ($41 mio) in net profit,” Podguzov said. “Investments in Russian Post will account for about RUR 34 bln over the next two years,” he added.

Speaking of Pochta Bank, Russian Post’s subsidiary, he noted, “Last year, the number of offices of the bank reached 15,000, so we will continue to expand our financial services. No later than October 1, 2019, Pochta Bank will become a joint stock company fully owned by the Russian government.”

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