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There are no talks about minimization of business in Ukraine, - Head of CEE Division at UniCredit

21.05.2014

There are no talks about minimization of business in Ukraine. This was stated by Gianni Franco Papa, the Head of CEE Division at UniCredit during EBRD conference in Warsaw, as was reported by “Delovaya stolitsia” edition.

"In the 1st quarter the Group made a profit, so we can afford to wait. There are no talks about minimization of business. The stabilization of situation in the country is much more important. Events in Ukraine and Russia affect not only these countries. If the conflict continues, the problems will spread to European countries as well,"- said Gianni Franco Papa.

To remind, UniCredit Bank net profit in 1Q 2014 grew in 5.4 times amounting to UAH 23.2 million.

Annual conference of the European Bank for Reconstruction and Development (EBRD) was held on May 14-16. The main topic of the conference was analysis of economic changes seen by Central and Eastern Europe during the last decades.

 

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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