06 May 2015

The bank Petrocommerce sold its Ukrainian subsidiary in March for RUB 3.86 mln, according to the IFRS report of the Russian bank.

Previously it was reported that on March 20, 2015, by virtue of signing of purchase and sale agreements with Petrocommerce Bank JSC (Russia), the ownership rights to the shares of the subsidiary bank were transferred to the Ukrainian investors. The sale was effectuated in equal parts, which constituted a total of 96.48% of the share of the Ukrainian bank.

The bank Petrocommerce-Ukraine was registered in 1996 and was initially called Aviatekbank. In January 2002, the bank was purchased by Petrocommerce and renamed.

During 2014, Petrocommerce incurred losses in the amount of RUB 50.9 mln. As of December 31, 2014, the negative capital of Petrocommerce-Ukraine PJSC constituted RUB 437.5 mln, while the assets constituted RUB 2.9 bln, which is RUB 1.6 bln less than at the end of 2013.

According to the National Bank of Ukraine, as of January 1, 2015, the bank took the 92nd place (UAH 1.117 bln) among 158 operating banks.

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