April 18, 2014

On 17 April the shareholders of Alfa-Bank (Ukraine) closed the deal with the Bank of Cyprus Group on purchasing 99,77% of PJSC “Bank of Cyprus” shares as well as the loan portfolio provided by the Bank of Cyprus Group to Ukrainian borrowers. The total sum of the deal made up EUR 202.5 million, according to the web-site of Alfa Bank.

The Chief Executive Officer of Alfa-Bank (Ukraine) Rushan Khvesiuk claimed that Alfa-Bank intends to further develop and strengthen the banking business in Ukraine including inorganic growth through M&A deals.

Alfa-Bank (Ukraine) – enters the world banking group “Alfa Bank”, uniting the banks in five countries: Ukraine, Belarus, Kazakhstan, Russia, and Holland.

PJSC “Bank of Cyprus” – is a universal bank the network of which numbers 39 branches in 13 districts of Ukraine. According to the NBU, PJSC Bank of Cyprus by 01 January 2014 took 67th place by its assets (UAH 2.601 billion) among 180 effective Ukrainian banks. The loan portfolio of the bank is by 76% made of the loans granted to legal entities (UAH 1.41 billion of UAH 1.86 billion).

Join M&A Ukraine

Request membership to M&A Ukraine

  • Connect with members on M&A Ukraine who run, advise, finance, and acquire private companies
  • Find out about the latest Ukrainian M&A news, recent deals and historical M&A transactions with financials and exit multiples
  • Find new investments, partnership opportunities, funding, mergers and acquisitions deals in Ukraine