25 October 2017

Serhiy Tigipko plans to merge VS Bank (Lviv) and TAScombank (Kyiv). In fact, this will be the acquisition of VS Bank by TAScombank after Sergiy Tigipko completes the purchase of VS Bank.

According to Tigipko, last year TAScombank grew 114%, while in the current year, assets grew 70%. Due to the VS Bank's purchase, TAScombank’s assets growth will be 100% and capital - 60%. At the same time, as Tigipko said, the number of branches of VS Bank will not be reduced.

He also said that his group, besides purchasing banks, was interested in buying non-performing loans.

Among the plans of Sergey Tigipko are to start mobile banking of Monobank on the basis of Universal Bank and new solutions for small and medium businesses based on TAScombank. In both projects Tigipko cooperates with former employees of Privatbank.

The priority of TAScombank is the continuation of integration with other companies working within his TAS Group. "We have now fully integrated CreditMarket, cash and consumer loans microfinancing company. This company has the opportunity to transfer part of its products to TAScombank’s balance sheet and receive funding sources from the bank. We also completed the integration of the “Ukrainian Leasing Fund”, which has recently been acquired”, - added Tigipko.

Tigipko is the owner of the financial and industrial TAS Group. In the financial market, the group is represented by TAScombank and the insurance group TAS. In December 2016, Tigipko completed the purchase of the Universal Bank and the insurance company Aegon Life Ukraine. During 2017, TAScombank acquired a part of the assets and liabilities of the insolvent Diamantbank and the bank "Noviy". In August, he applied to the National Bank and the Antimonopoly Committee to buy VS Bank, the subsidiary of the Russian Sberbank. The Antimonopoly Committee has already approved such agreement. National Bank of Ukraine also sees no obstacles for buying VS Bank.

According to the NBU, on July 1, TAScombank ranked 19-th (UAH 10.6 billion) among 88 operating banks in terms of assets. As of July 1, VS Bank ranked 28-th (UAH 3.6 billion) among 88 operating banks in terms of assets.

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