Ukrsotsbank (Kyiv), since 2013 operating under the UniCredit Bank brand in Ukraine, has announced its rebranding and returns its previous name, the bank's press service has reported.

"Ukrsotsbank… announces rebranding and returns to its historic name – Ukrsotsbank. On December 1, 2016 the bank presents its logo: a well-known illustration of the bank’s name," the bank said in a press release.

According to the agreement between ABH Holdings S.A. and UniCredit Group, the bank will change its brand, signboards of retail branches and advertising materials within three months from the date of the agreement on assets exchange was signed (October 31, 2016).

The rebranding won’t affect the terms of customer servicing. Bank details, information for payments and licenses remain unchanged.

"Ukrsotsbank has been operating in the market for more than a quarter of century, ever being a trendsetter… The refreshed logo is a well-recognized face of the renewed bank, unchanged in its reliability and traditions, but standing ready for dynamic changes in order to offer more to its customers," the bank said.

In October UniCredit and ABH Holdings S.A. closed the agreement on assets exchange. Within the agreement 99.9% of Ukrsotsbank shares were transferred to ABHH in exchange for 9.9% of shares of the holding.

Ukrsotsbank was founded in 1990.

ABHH's current beneficiaries include Lviv-born Mikhail Fridman with 36.47%, Kyiv-born German Khan with 23.27%, who are now citizens of Israel and reside in London, the U.K. Other beneficiaries are Alexei Kuzmichev with 18.12%, Pyotr Aven with 13.76%, Andrei Kosogov with 4.08% (all are citizens of Russia residing in Moscow), and The Mark Foundation for Cancer Research with 4.3%.