UniCredit has no plans to sell Ukrsotsbank, says banker

17:37, 04.11.2013 1 min read

Ukrsotsbank (Kyiv) Board Chairman Graziano Cameli has denied Italian group UniCredit intends to sell the Ukrainian bank.

"The acquisition of such a large bank as Ukrsotsbank implies a long-term strategy of presence. The merger with UniCredit Bank has once again confirmed this vector...There has been no decision made to change the strategy of UniCredit's presence in Ukraine," he told the Investgazeta publication.

As reported, with reference to UniCredit CEO Federico Ghizzoni, UniCredit is mulling the sale of the Ukrainian bank.

Ukrsotsbank was founded in 1990. Its largest shareholder in the third quarter was UniCredit Bank Austria AG, which owned 49.9663% of the bank shares directly and 48.3958% - through PJSC Ferrotrade International.

According to the National Bank of Ukraine, on October 1, 2013 in terms of assets Ukrsotsbank ranked seventh (UAH 37.329 billion) among the 176 banks operating in Ukraine.