BANKING SECTOR

Yaroslavsky to submit Prominvestbank purchase papers to NBU in near future

Acquisition bid comes as current Russian owners seek exit from Ukraine banking sector amid geopolitical tensions

Yaroslavsky to submit Prominvestbank purchase papers to NBU in near future
Business Ukraine magazine
Monday, 25 September 2017 00:35

The president and owner of DCH Group Oleksandr Yaroslavsky has stated that he plans to submit documentation to the National Bank of Ukraine (NBU) on the acquisition of a substantial share in Prominvestbank in the nearest future. “The documents are being prepared at the moment. I think we will submit them in 10 or 12 days,” Mr. Yaroslavsky commented during a briefing on 22 September.  

In early August, the NBU press office informed that the NBU had received an official letter from Oleksandr Yaroslavsky’s representatives dated July 14 stating his intention to submit to the required package of documents to purchase a substantial stake in Prominvestbank.

It was also stated that on 28 July, the NBU Committee on Banking Supervision, Regulations and Payment Services Providers Oversight reached a decision to reject the proposed purchase of a substantial share of Prominvestbank by Maksym Mykytas and Pavlo Fouks. The National Bank pointed out that the potential buyers had not submitted the necessary documents and failed to meet the requirements of Ukrainian legislation.

Prominvestbank was founded in 1992. Russia’s Vnesheconombank currently owns 99.7% of its stock. According to the National Bank of Ukraine, the bank was number 13 among the 90 banks operating in the country in terms of asset volume as of 1 April 2017.

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