10:42 15.10.2020

Tigipko plans to withdraw PIB from market, transfer working assets to TAScombank

2 min read
Tigipko plans to withdraw PIB from market, transfer working assets to TAScombank

Ukrainian businessman Sergiy Tigipko, who through his company Luregio Limited submitted documents to the National Bank of Ukraine (NBU) to approve the purchase of Prominvestbank (PIB), plans to withdraw PIB from the market and transfer working assets to TAScombank (both based in Kyiv).

"We turned to the NBU to buy another bank - PIB ... If there is a decision by the NBU, we will immediately apply and will do everything to get the PIB license and integrate what remains from working assets, primarily into TAScombank, the rest will be left to financial companies," Tigipko said during the Ukrainian Banking Forum in Kyiv.

He added that he expects to withdraw the bank from the market rather quickly.

"We are ready for such work, we have good experience, we have bought many banks, sold a lot, so we hope that here we will be able to withdraw the bank from the market rather quickly and increase our assets," Tigipko said.

As reported, the Antimonopoly Committee of Ukraine (AMC) approved the acquisition of PIB by Luregio Limited through the purchase of Fortify Financial Company LLC. The committee voted for this decision at a meeting on October 8.

The AMC specified that in both cases the matter concerns acquisitions that will provide the buyer with over 50% of the voting shares on the company's board.

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