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X5 Group and Alfa-Bank Set up a Subsidiary to Launch X5 Bank Service

November 16, 2021, 16:22 (UTC+3)|
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X5 Group together with Alfa-Bank registered a subsidiary X5 Financial Solutions for the implementation of the X5 Bank service.

The shares in the subsidiary are divided between X5 Group and Alfa-Bank by 49.99% each, while the remaining 0.02% is owned by Alfa Investments.

The product launch is planned later this year. The service will provide services to X5 Group clients based on the infrastructure of Alfa Bank.

The plans of the X5 Group to launch the service were reported in early 2021.

Original (in Russia)

Subject:

#fintech

Companies:

#X5_Group#Alfa_bank

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