BNP Paribas completes acquisition of a 51% stake in UkrSibbank
Following the granting of all required regulatory approvals, BNP Paribas has acquired 51% of Joint Stock Commercial Innovation Bank UkrSibbank in Ukraine. The existing shareholders have entered into a long-term agreement with BNP Paribas and they will remain 49% shareholders in UkrSibbank.
Taking advantage of BNP Paribas product expertise, cross-selling know-how and international client base, UkrSibbank will capitalise on its extensive network and deep knowledge of the Ukrainian market to further develop activities which will include, amongst others, retail, consumer finance as well as corporate and investment banking, leading to significant growth prospects and synergies in Ukraine and beyond.
UkrSibbank is the 4th largest banks in Ukraine in terms of assets and a leading bank in retail, commercial lending as well as investment banking. It serves over 50 000 corporate client accounts and 1.6m individual client accounts. UkrSibbanks network now comprises 830 branches and outlets and employs about 9 500 people. On December 31st 2005, UkrSibbank had revenues of USD 113m, net income of USD 9.3m, total assets of USD 2 108m, loans of USD 1 540m, deposits of USD 1 028m and shareholders funds of USD 200m.
Press contacts :
Jonathan Mullen+33 (0)1 42 98 13 36 jonathan.mullen@uk.bnpparibas.com
Carine Lauru+33 (0)1 42 98 15 91 carine.lauru@bnpparibas.com
Christelle Maldague+33 (0)1 42 98 56 48 christelle.maldague@bnpparibas.com
Celine Castex+33 (0)1 40 14 65 16 celine.castex@bnpparibas.com
Source
UkrSibbank