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Anti-Monopoly Committee of Ukraine approved the agreement between ABH Holdings S.A. and UniCredit Group

09.09.2016

Yesterday, September 08, 2016, Anti-monopoly Committee of Ukraine rendered a positive decision on the deal between ABH Holdings S.A. (ABHH) and UniCredit Group; this is an important step on the process of creation of the largest international banking Group in Ukraine. UniCredit Group will become shareholder of ABH Holdings S.A. and this one will assume the control of USB in Ukraine.

"The transaction approval by Anti-monopoly Committee of Ukraine is a consistent and sensible step of the regulator, which will promote consolidation of financial market and formation of new strong player in the financial sector," CEO of UniCredit Bank Tamara Savoshchenko noted. "The deal will make our bank able to better compete in the market and serve our customers, and it will benefit Ukraine business and communities."

The next step is the authorisation from National Bank of Ukraine that UniCredit Bank expects to receive in the nearest future.

 

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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