Belarus' Paritetbank applies to NBU for acquisition of Russian Sberbank's Ukraine subsidiary
OJSC Paritetbank (Belarus) whose 99.8267% stake belongs to the state sent a package of documents to the National Bank of Ukraine on Thursday, December 21, to agree on the acquisition of a 100% stake in Sberbank PJSC (Ukraine), a subsidiary of Sberbank of Russia.
"Paritetbank's management highly assesses the potential of Sberbank (Ukraine) in the context of the goals and tasks facing the management for the development of the banking business," the Belarusian bank said.
According to it, Paritetbank's supervisory board decided to acquire the Ukrainian subsidiary of Sberbank following the analysis of possible scenarios of the bank's development.
Kyiv-based Sberbank PJSC in January-September 2017 posted UAH 0.104 billion in net profit, whereas it was in the red in the same period in 2016 with net loss estimated at UAH 2.96 billion. Net interest income decreased by 19.5%, UAH 2.45 billion, while net fee and commission income dropped by 21.5%, to UAH 0.36 billion.
The bank's assets for the indicated period shrank by 15.7%, to UAH 40.68 billion, including loans and advances to customers by 16.1%, to UAH 33.81 billion.