Ukraine's Bank Credit Dnepr to acquire smaller peer – Delo.ua

Ukraine-based JSC Bank Credit Dnepr plans to acquire a controlling stake in local lender PJSC First Investment Bank, Delo.ua reported Nov. 29, adding that the country's competition watchdog launched proceedings to approve the potential transaction.

Bank Credit Dnepr is owned by Ukrainian businessman Alexander Yaroslavsky, who recently secured the competition regulator's clearance to become a majority shareholder in local insurer Oranta Inc., Delo.ua noted.

As of Oct. 1, Bank Credit Dnepr and First Investment Bank ranked 19th and 44th in the Ukrainian banking system, with their assets amounting to 19.78 billion hryvnia and 3.7 billion hryvnia, respectively.

As of Nov. 29, US$1 was equivalent to 27.20 Ukrainian hryvnia.