Economy 2024-07-15T06:38:41+03:00
Ukrainian news
FUIB Reaches Agreement On Key Conditions For Purchase Of Idea Bank

FUIB Reaches Agreement On Key Conditions For Purchase Of Idea Bank

bank, Poland, FUIB, First Ukrainian International Bank, Getin Holding S.A., Idea Bank

The First Ukrainian International Bank (FUIB) has reached an agreement with the Polish financial group Getin Holding S.A. on key terms for the acquisition of 100% of Idea Bank shares.

FUIB has said this in a statement, Ukrainian News Agency reports.

The parties plan to complete the agreement by the end of the first quarter of 2022, after obtaining the necessary permits from the National Bank of Ukraine (NBU) and the Antimonopoly Committee of Ukraine (AMCU).

FUIB reported that the acquisition of Idea Bank contributes to the construction of a scalable banking model with a focus on the development of retail business, as well as corporate business in the small and micro-segment and is fully consistent with the development strategy of FUIB.

After the completion of the transaction, Idea Bank will become a part of the banking group of FUIB PJSC as a separate legal structure without staff rotations and will continue to serve clients under the Idea Bank brand as usual.

As Ukrainian News Agency earlier reported, FUIB was founded in 1991.

92.24% of FUIB is owned by SCM Finance.

SCM Finance is a subsidiary of System Capital Management and specializes in the management of financial institutions.

On December 20, 2019, the companies of the Dragon Capital group, together with a private investor, signed an agreement to acquire 100% of the shares of Idea Bank (Lviv) from Getin Holding S.A. (Poland).

The agreement was to enter into force after agreement with the Antimonopoly Committee of Ukraine and the National Bank of Ukraine, as well as after the parties fulfilled the preliminary conditions of the agreement.

In June 2020, Getin Holding S.A. and Dragon Capital stopped the deal on Idea Bank.