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Ukrsotsbank merges with Alfa-Bank Ukraine

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Ukrsotsbank merges with Alfa-Bank Ukraine

Ukraine-based JSC Alfa-Bank and JSC Ukrsotsbank have completed the integration of their balance sheets and other technical activities related to their merger.

Alfa-Bank Ukraine has become the full successor of all rights and obligations of Ukrsotsbank in relation to its customers, partners and counterparties. All legal procedures associated with the merger and termination of activities of Ukrsotsbank will be finalized by the end of 2019, Alfa-Bank said in an Oct. 15 filing.

Alfa-Bank's parent, ABH Holdings SA, purchased Ukrsotsbank from UniCredit SpA in November 2016. The lender said in August 2019 that its general manager, Ivan Svitek, was set to resign following the lenders' merger in October and would be replaced by Rafał Juszczak.