Following the granting of all required regulatory approvals, BNP Paribas has acquired 51% of UkrSibbank in Ukraine.
The existing shareholders have entered into a long-term agreement with BNP Paribas. They will remain 49% shareholders in UkrSibbank.
BNP Paribas aims to further develop in the Ukrainian market, including, among others, retail, consumer finance as well as corporate and investment banking.
UkrSibbank is the 4th largest bank in Ukraine in terms of assets and a leading bank in retail, commercial lending as well as investment banking. It serves over 52 000 corporate client accounts and 1.6m individual client accounts. UkrSibbank’s network now comprises 830 branches and outlets and employs about 9,500 people.
On December 31, 2005, UkrSibbank had total assets of USD 2 108m, loans of USD 1 540m, deposits of USD 1 028m and shareholders funds of USD 200m.