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NBU approved integration of PJSC "UniCredit Bank" and PJSC "Ukrsotsbank"

05.09.2013

On September 3, 2013 the National Bank of Ukraine informed on assignation of permission on the reorganization of PJSC "UniCredit Bank" by its affiliation to PJSC "Ukrsotsbank" and approval of the plan of the reorganization of the first one.

From the moment of obtaining of the Regulator permission two Ukrainian subsidiaries of UniCredit have entered the final stage of the integration process which is totally in line with the intragroup strategy of the long-term presence on Ukrainian market.

Having the approval of the National bank of Ukraine PJSC "UniCredit Bank" achieved the right to start the process of migration of its clients to PJSC "Ukrsotsbank" by offering them to change the bank into its legal successor - PJSC "Ukrsotsbank".

To remind, on 5 August, 2013 the Extraordinary Shareholders Meeting of PJSC "Ukrsotsbank" and the only shareholder of PJSC "UniCredit Bank" (UniCredit S.p.A (Milan), which solely executes the authorities of the General Meeting of Shareholders of PJSC "UniCredit Bank", approved the decision on PJSC "UniCredit Bank" reorganization by its affiliation to PJSC "Ukrsotsbank" and also approved the compositions of Commission for reorganization.

 

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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