Ozon Holdings completed the acquisition of Oney Bank from Sovcombank for $8m.

Ozon Holdings, an electronic commerce platform, completed the acquisition of Oney Bank, a credit institution providing financial services in Russia, from Sovcombank, a private bank, for $8m. "The acquisition of a bank enables Ozon to implement our product vision in fintech. Our goal was to acquire an asset which we can integrate into our fintech business expediently and efficiently. Furthermore, transparency and reliability of the acquisition target were key criteria for Ozon in concluding this transaction," Vahe Ovasapyan, Ozon Financial Services Vice President.