Fidobank and Eurobank announced a merger

Fidobank and Eurobank announced a merger

04.03.2016 News

Fidobank and Eurobank announced a mergerThe foreign investor will enter the capital of the combined bank. The owner and the Chairman of the Board of the Fidobank, and the shareholder of the Eurobank (both – Kiev), Alexander Adarich plans to consolidate its banking assets by combining the two banks, as well as attract foreign investors.

“Based on the National Bank of Ukraine recommendations on banking sector consolidation, it has been developing  a strategic plan for the development of the bank on the basis of the combined Fidobank and Eurobank. Besides, we have enlisted the help of the foreign investor, who  confirmed the readiness to enter the Ukrainian market, and enter the capital of the combined bank. Now we expect the official approval of the plan and the relevant agreements on foreign investment by the regulator “, – said Adarich.

According to him, the combined bank will be the innovative universal bank for corporate and private clients. Best practices, innovative products and services of the both banks will be used under the combining.

Fidobank (previously – the  SEB Bank, the bank “Agio”) was established in 1991, Eurobank – in 2005.

According to the NBU, by total assets on October 1, 2015 Fidobank held the 22nd  place (7.616 billion UAH), Eurobank  (1.634 billion UAH) – 57th place among 123 operating banks in the country.

“Our concern is the creation of the innovative universal bank for corporate and private clients. The foreign investor will provide the additional funding, which will allow the bank to actively lend the real economy and to provide quality service to private clients”, – says Alexander Adarich about the prospects for further development of the bank.

Source: segodnya.ua

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