OREANDA-NEWS. Raiffeisen International Bank-holding AG has completed the transaction on sale of 100% stake in AKB Raiffeisenbank Ukraine to Hungarian OTP Bank Plc after reception of the necessary sanction of supervising bodies. The agreement on purchase was signed on June 1, 2006.

As of the end of September 2006, currency of balance of AKB Raiffeisenbank Ukraine (now AKB OTP Bank) has exceeded 1,6 billion euro, and the bank had 42 branches and divisions.

The sum of the transaction has made 650 million euro. The transaction has provided additional profit in 470 million euro for Group Raiffeisen International which will be carried to financial results of the Group for the fourth quarter of 2006.