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Acquisition of Ukrsotsbank by Alfa-Bank's owner investigated by Antimonopoly Committee of Ukraine

Acquisition of Ukrsotsbank by Alfa-Bank's owner investigated by Antimonopoly Committee of UkraineThe Antimonopoly Committee of Ukraine is hearing a case on concentration in the form of the acquisition of 100% of shares in public joint-stock company Ukrsotsbank by ABH Holdings S.A. (ABHH) that indirectly owns Alfa-Bank (both based in Kyiv), the committee has said in a press release.

In addition, ABHH has control relation to Neos Bank (Kyiv).

"We ask you to present your grounded objections and ideas about the above-mentioned concentration," the committee said.

The information will be collected until June 1, 2016.

Read also: Share of non-performing loans in Ukrainian banking system exceeds 40%

Alfa-Bank was founded in 1993. It is part Alfa-Bank private international banking group, combining banking institutions in Ukraine, Belarus, Kazakhstan, Russia, the Netherlands.

Early 2016 ABHH closed the deal to acquire Ukrsotsbank from UniCredit Group (UCG).

According to the National Bank of Ukraine, Ukrsotsbank ranked 7th among 123 operating banks as of October 1, 2015, in terms of total assets worth UAH 43.08 billion and Alfa-Bank ranked 8th with UAH 41.9 billion of assets.

Total assets of the two banks would place the united bank to the fourth position after Ukreximbank (UAH 140.19 billion), Oschadbank (UAH 156.6 billion) and PrivatBank (UAH 241.81 billion).
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