Russia’s Richest Man Expands Banking Empire in Face of Sanctions

Sanctioned Russian tycoon Vladimir Potanin is buying a stake in a digital bank for businesses and expanding his lending empire with the third such purchase since Russia invaded Ukraine.

Potanin’s Interros joined a consortium of investors that already controls about 10% of the digital-banking services provider Tochka. It will buy out the rest from Trust Bank, which controls the lender, according to a statement from the holding company on Monday.

Interros purchased Societe Generale SA’s stake in Rosbank PJSC shortly after the war in Ukraine started when the French firm was seeking to sell and exit from Russia. Potanin, Russia’s ...