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IBM and Ukrsotsbank Ukraine Sign 10-year Services Agreement

08.02.2012

Partnership to increase bank’s operational flexibility, cut costs, and improve customer service

KIEV, Ukraine – 08 February 2012: IBM (NYSE:IBM) and Public Joint Stock Company (PJSC) Ukrsotsbank, part of UniCredit Group, have signed an agreement to outsource the bank's information technology (IT) systems and processes to IBM.

As part of the 10-year agreement signed in December 2011 and valued at approximately USD$200M, IBM will assume responsibility for the development and support of PJSC "Ukrsotsbank’s" information systems and applications as well as the management of the bank’s IT infrastructure.

By tapping into IBM’s vast cumulative knowledge, PJSC "Ukrsotsbank" plans to improve customer service, increase performance efficiency and lower operational risk across its country-wide network of nearly 400 branches.

“By outsourcing our information technology activities to IBM we are able to focus on our core business priorities while ensuring the best possible service to our customers,” said Francesco Pusateri, Head of   Global Banking Services of PJSC UniCredit Bank. “Having already successfully migrated and centralized PJSC "Ukrsotsbank’s" core banking systems, this decision will help us to strengthen our leadership in the Ukrainian banking sector. Leveraging IBM’s technology assets and industry experience we are able to transform the way we work and run our operations. This step is an important enhancement of UniCredit Group’s strategy of concentrating on core business and cost optimization.”

Under the terms of the agreement, IBM will take over the management and maintenance of PJSC "Ukrsotsbank’s" application portfolio, data center systems, IT network, ATMs, end-user and deskside support. The move is designed to provide substantial benefits to PJSC "Ukrsotsbank" and its customers, as well as help the bank achieve significant operational savings.

PJSC "Ukrsotsbank" has recently migrated to a new core banking system leveraging an innovative architectural approach. The effectiveness of this new system, coupled with break-away performance improvements derived from the IBM collaboration, creates a powerful replicable model that can be ‘exported’ to other UniCredit businesses.

“This is the first instance of full outsourcing in the region and marks a new era in the IT delivery model and in the development of Ukraine’s financial services sector,” said Joseph Benaroya, Vice President, IBM Global Technology Services. “Banks across growth markets are currently under enormous pressure to reduce costs and operational complexities while at the same time improve the customer experience. PJSC "Ukrsotsbank" has turned to IBM for its unrivalled experience in the banking sector and to ensure that its customers benefit from the very best technologies and business processes.”

The agreement demonstrates IBM’s momentum in growth markets and signals its readiness to broaden its presence in Ukraine where it has been present since 1992. Through the implementation of the latest technologies and business processes, the agreement will also provide an infusion of resources and knowledge into the local skills base supporting the development of next-generation technology talent in Ukraine.

"PJSC "Ukrsotsbank’s" agreement with IBM represents a major milestone for outsourcing within the Commonwealth of Independent States region. It sets a new gold standard and reference point for major Ukrainian and Russian financial enterprises seeking a more effective way of running large and expensive IT infrastructures under challenging economic conditions.” IDC believes that this important initiative will start a wider uptake of outsourcing services in the market," said Andrew Golovnykh, Senior Research Analyst, IDC Ukraine.

As part of its geographic expansion initiative to increase its presence in emerging, high-growth cities and regions, IBM is actively expanding its business operations in Russia and the Commonwealth of Independent States (CIS). IBM has 14 offices across the region including Moscow, St. Petersburg, Krasnoyarsk, Novosibirsk, Perm, Ekaterinburg, Samara, Rostov-on-Don, Kazan, Ufa, Kiev and Dnipropetrovsk (Ukraine), Almaty (Kazakhstan) and Tashkent (Uzbekistan).

About PJSC "Ukrsotsbank"

PJSC "Ukrsotsbank" is one of the largest banks in Ukraine, providing retail, business, corporate and private banking services. It has a network of nearly 400 branches and provides services to over 2 million customers across Ukraine. In 2008 the bank became part of UniCredit Group, one of the largest financial networks in the world, covering 22 countries in Europe and additionally 27 countries worldwide.

Since September 2011 PJSC "Ukrsotsbank" operates under the trademark UniCredit Bank.

For more information about PJSC "Ukrsotsbank", visit: http://en.unicredit.com.ua/about/

About IBM

For more information about IBM, visit: http://ibm.com/smarterplanet


Contacts
:

Iryna Kobylchenko
PJSC "Ukrsotsbank"
+38 044 230 32 56
Iryna.Kobylchenko@unicredit.ua

Tatiana Lubimova
IBM Ukraine
+38 067 246 73 43
Tatiana_Lubimova@ua.ibm.com

Alexandra Kisel
IBM Russia/CIS
+7 (903) 115-71-91
alex.kisel@ru.ibm.com

Jonathan Batty
IBM Growth Markets
+48 69393 5403
Jonathan.Batty@pl.ibm.com

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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