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UniCredit Bank voices concern with SBU’s encouraging clients to opt for state banks

28.04.2016

UniCredit Bank is deeply concerned with misleading letters being sent to our clients by the SBU, recommending them to change their bank in favour of state-financed institutions.

It must be noted that our bank is a part of international group with impeccable business reputation. As announced earlier, the deal with ABH Holdings SA and further merger with Alfa-Bank will result in forming a strong banking group in the Ukrainian market. This player will encompass best practices of both international banking structures and will result in creating additional value for Ukrainian companies, consumers, professionals and communities. 

This being said, allegations of the SBU regarding UniCredit Bank’s connection to the Russian capital and intention to negatively impact the Ukrainian state sector of economy are unfounded and clearly intended to disturb free competition and at the end to damage Ukraine economy. 

Our bank has already appealed to the SBU Head Vasyl Hrytsak asking to help clear the situation.

 

NOTE

Ukrsotsbank is one of the largest universal banks of Ukraine, operating in the local market since 1990. The bank offers full range of services to individuals and corporate clients.

The renovated Ukrsotsbank emerged on 31 October 2016 as a result of strategic deal whereby 99.9% of Ukrsotsbank shares have been transferred from UniCredit Group to ABH Holdings S.A. (АВНН) in exchange for a minority 9.9% stake in ABHH. Thus, the bank has combined 26-year-old traditions of Ukrsotsbank’s client-centric attitude, European quality of service inherent to UniCredit, as well as international banking expertise of ABHH in a number of European countries including CIS. Thanks to the successful synthesis and synergy of the two assets of ABHH in Ukraine, Ukrsotsbank and Alfa-Bank, the banking market of Ukraine will see the rise of a new stronger financial institution. This, in turn, will spur up technological advance, increase efficiency, improve quality of service for the clients, reduce cost of banking services whereas their range will inevitably expand.

The extensive retail network of Ukrsotsbank consists of 237 branches, its headcount reaching nearly 5 thousand employees.


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