Alfa-Bank and Ukrsotsbank will merge

by Editor • 02.02.2016 • 0 Comments

Alfa-Bank and UkrSibbank will officially merge on February 4. This was announced by Yulia Sobko, Director of Strategic Communications at Alfa-Bank Ukraine.
The merger was actually announced back in August of last year. The reason for the merger was not disclosed, but it appears to be because, if successful, the Ukrsots-Alfa conglomerate would become the fourth-largest conglomerate in Ukraine by assets, totaling UAH 84,89 billion.
As of October 1 last year, UkrSibBank had UAH 43,1 billion in assets and was in 7th place, while Alfa-Bank had UAH 41,9 billion (8th place).
However, it has not yet been announced whether the situation will change in any way for the bank's clients, or how the transition will be implemented for individuals and legal entities.

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