Integration Process of Ukrsotsbank and UniCredit Bank Finalized
OREANDA-NEWS. UniCredit Bank is glad to inform that the integration process of its two legal institutions (PJSC “Ukrsotsbank” and PJSC “UniCredit Bank”) has been successfully completed. From now on there will be only one bank on Ukrainian market representing UniCredit group - UniCredit Bank.
As of 2 December, 2013 the total assets of newly integrated UniCredit Bank amount to UAH 41 bln. 435 branches will serve the clients of the joint Bank, 4 of which serve Private Banking clients. The total amount of the Bank's FTE is equal to 6164. The total number of CIB clients is 6 285, Retail clients amount to about 1 mln and more than 60 thousands clients has SME business of newly integrated Bank.
Gianni Franco Papa, Head of CEE Division at UniCredit: “We are glad to announce today the completion of the integration of our two banks in Ukraine, UniCredit Bank and Ukrsotsbank. By this we have created an even more powerful institution operating in the local market. The newly formed universal bank will provide our Ukrainian clients with more opportunities to develop their investments and businesses.”
On January 23, 2008 UniCredit group finalized the acquisition of 94.2% of total shareholders capital of UniCredit Bank from the group of investors, through Bank Austria which is a part of the group and is responsible for commercial banking activities in CEE.
On July 16, 2013 the transfer of 100% of PJSC “UniCredit Bank” shares from Bank Pekao S.A. (Warsaw) to UniCredit S.p.A. (Milan) was completed. This transaction was the first step of an intragroup reorganization aimed at the merger of the two banks belonging to UniCredit group operating in Ukraine. The integration has been accomplished by the accession of PJSC “UniCredit Bank” to PJSC “Ukrsotsbank”. Thus PJSC “Ukrsotsbank” has become the successor of the rights and obligations of PJSC “UniCredit Bank” at the full extent.
Graziano Cameli, CEO of UniCredit Bank: “The process of integration has been finalized. We are fully satisfied with the results we've achieved - the stronger and more powerful bank in each segment of the market. We would also like to thank our clients for their patience and understanding during this transitional period. Now we'll use our gained advantages to move up.”
The newly integrated bank is supposed to become a stronger player operating on Ukrainian banking market under UniCredit Bank brand name, providing its customers with a wider range of high-quality products and keeping the high level of service.