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. 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. These 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 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 31st 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.
About BNP Paribas
BNP Paribas (www.bnpparibas.com) is a European leader in banking and financial services, with a significant and growing presence in the United States and leading positions in Asia. The group has one of the largest international banking networks, a presence in over 85 countries and employs more than 110 000 employees, including approximately 80,000 in Europe. BNP Paribas enjoys key positions in its three core businesses: Corporate and Investment Banking, Asset Management & Services and Retail Banking.