Ukrsotsbank will borrow a large sum of money from an Italian financial institution.

ukrsocUsing the resources of the National Securities and Stock Market Commission's information disclosure system, Ukrsotsbank informed the public that it would borrow $79 million from UniCredit SpA (Italy). This information was published Interfax-Ukraine.

The intended use for such a large loan is not disclosed. It is noteworthy that Ukrsotsbank has recently become part of the same ABH Holdings SA (ABHH) group, which owns 100% of Alfa-Bank shares: following an agreement signed with UniCredit in January 2016, 99,8% of Ukrsotsbank shares were exchanged for a 9,9% stake in ABHH.

 

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