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UniCredit restores full operation in Libya

03.01.2012

UniCredit announces that in the last few days it has restored full operation of its Representative Office in Tripoli, Libya, which had reduced its activities due to the war that broke out in this country.

The re-opening of the office, inaugurated in 2009, is a sign of confidence in the future and proof of the return to normality following the war. UniCredit's presence and activities in Tripoli aims to reinforce the cooperation with the Country in the current reconstruction phase, working closely with the new authorities, also within the framework of the renewed Treaty of Friendship between Italy and Libya, whose validity was recently confirmed by the authorities of the two countries.

The Representative Office in Libya, one of the very few offices of international banks in the country, assists business customers in contracts with Libyan counterparts, directly intervening in the issue and management of Letters of Credit and Comfort Letters, sundry bonds (performance bonds, advance payment bonds, etc.) and the management of related cash flows. Moreover, the office also carried out extensive operations with Libyan government- owned and private companies that have business relations with foreign companies. It also works closely with the diplomatic representative offices of the main European countries where the Group is present, providing them with economic, financial and technical information on current practices in Libya, and receiving from them notices and requests for banking assistance for companies in their respective countries which operate in Libya.

Milan, December 30, 2011


Enquiries:

Media Relations:
Tel. +39 02 88628236; e-mail: MediaRelations@unicredit.eu
Investor Relations:
Tel. + 39 02 88628715; e-mail: InvestorRelations@unicredit.eu

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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