Alfa-Bank Ukraine and Ukrsotsbank have merged

News 15 october 2019 - 15:51

The united team of Alfa-Bank Ukraine and Ukrsotsbank has successfully completed the merger of balance sheets and technical activities related to the merger of Ukrsotsbank with Alfa-Bank Ukraine. 

Alfa-Bank Ukraine has become the full successor of all rights and obligations of Ukrsotsbank in relation to its customers, partners and counterparties.  On October 15, 2019 the transfer deed was approved by the resolution of the general meeting of shareholders of Alfa-Bank Ukraine and by the resolution of the sole shareholder of Ukrsotsbank. All legal procedures related to the merger and termination of activities of Ukrsotsbank will be completed by the end of this year.

The increase in the authorized capital of the bank and the issue of shares of the bank in order to convert the shares of Ukrsotsbank have been approved by the resolution of the general meeting of shareholders of Alfa-Bank Ukraine.

“For two and a half years, our united team has worked hard to merge two large banks. Thanks to the weighed decisions and support of shareholders, competence of the team and support and trust of customers and partners, this merger has become the most successful example of effective synergy between two different financial institutions, and we are starting a new history of leadership in the national banking market. Now we are a single entity with strong expertise, best practices and ambitious goals,” said Viktoria Mykhailo, Chairman of the Board of Alfa-Bank Ukraine.

The reorganization of financial institutions by merging Ukrsotsbank with Alfa-Bank Ukraine is carried out according to the simplified procedure provided for by the Law “On simplifying the procedures for the reorganization and capitalization of banks” in accordance with the permission of the National Bank of Ukraine dated September 12, 2019.

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