Ukrsotsbank

History

2023: Nationalization of the bank in Crimea

Deputies of the State Council of Crimea at a meeting in absentia adopted a resolution on the nationalization of the property of foreign citizens and states committing unfriendly actions against Russia. In particular, several banks fell under nationalization. Speaker of Parliament Vladimir Konstantinov wrote about this in his Telegram channel in early February 2023. Read more here.

2016: Russian Alfa Group acquires Ukrsotsbank

In January 2016, investment holding ABH Holdings (ABHH; 100% owned by Alfa Group shareholders) agreed with Unicredit Group (UCG) to acquire Ukrsotsbank. In exchange for the acquisition of ABHH Ukrsotsbank, Unicredit will receive 9.9% of the increased authorized capital of ABH Holdings, the Italian group said in a statement.

The representative of the minority shareholder will also receive a seat on the board of directors of ABHH and the right to initiate an IPO of the investment holding. In addition, the parties agreed on the right to redeem or sell a block of shares after five years from the date of closing the transaction.

The fact that Alfa Group may acquire Ukrsotsbank in exchange for a stake in ABHH became known in August 2015. Then the parameters of the transaction were not called.

UniCredit plans to cut about 18.2 thousand jobs by 2018, including about 6 thousand jobs by selling Ukrsotsbank and a stake in Pioneer Global Asset Management SpA.

In September 2016, the deal was closed.

On December 1, 2016, according to an agreement with ABH Holdings S. A, the bank changed its name to the former - Ukrsotsbank.

2013: UniCredit Bank is affiliated with Ukrsotsbank

In order to further develop business in the country, it was decided to combine two Ukrainian assets of the UniCredit group - UniCredit Bank PJSC (100% of the shares belonged to Pekao SA (Warsaw), a member of the UniCredit group) and PJSC Ukrsotsbank. In July 2013, UniCredit Bank transferred 100% of its shares from Pekao SA (Warsaw) to UniCredit SpA (Milan). This transaction was the first step in an intra-group reorganization aimed at merging the two banks. The integration was carried out by joining PJSC UniCredit Bank to PJSC Ukrsotsbank in December 2013. Thus, PJSC Ukrsotsbank became the successor to the rights and obligations of PJSC UniCredit Bank in full.

2008: UniCredit buys Ukrsotsbank for $2.07 billion

In January 2008, the Italian UniCredit Group completed the purchase from Viktor Pinchuk of 94.2% of the total issued share capital of Ukrsotsbank through Bank Austria, which is part of the group and is responsible for commercial banking activities in Central and Eastern Europe. The deal amounted to a record $2.07 billion at that time.

2004: Victor Pinchuk buys Ukrsotsbank for $250 million

In 2004, Viktor Pinchuk bought Ukrsotsbank from V. Khoroshkovsky and N. Laguna for $250 million.

1990: Creation of Ukrsotsbank on the basis of Zhilsotsbank

Ukrsotsbank was established in September 1990 on the basis of the Ukrainian republican branch of the USSR Zhilsotsbank.