FUIB reached a preliminary agreement on acquisition of Idea Bank JSC

The First Ukrainian International Bank JSC (FUIB) reached an agreement on the key conditions for the acquisition of 100% of shares of JSC "Idea Bank" with the Polish financial group Getin Holding S.A.

The parties plan to close the deal by the end of the 1st quarter of 2022, after obtaining the necessary permits from the National Bank of Ukraine and the Antimonopoly Committee.

The acquisition of Idea Bank JSC contributes to the construction of an efficient and scalable banking model with a focus on the development of retail business, as well as corporate business in the small and micro-segment, and fully complies with the development strategy of FUIB.

“Our goal is the synergy of the strongest aspects of the two banks. On the one hand, it is the reliability of FUIB confirmed by the results of the stress testing of the NBU, quality of service and expertise in working with high-yield market segments. On the other hand, there is a high level of competence of Idea Bank in retail lending, a formed resource base, experience in developing O. Bank, their own digital platform”, commented Serhiy Chernenko, FUIB's Chairman of the Board.

After the completion of the transaction, Idea Bank JSC will become part of the PJSC FUIB Banking Group of as a separate legal structure, without staff rotations and will continue to serve clients under the Idea Bank brand as usual.  “The integration process will take place in stages over 3-5 years and will be as comfortable as possible for our clients, partners and employees. At this stage, our focus is on the stability of the infrastructure of FUIB and Idea Bank, the further development of digital channels of banks and the provision of high-quality and reliable service to clients," added Serhiy Chernenko.

Reference:

The First Ukrainian International Bank (FUIB) is biggest Ukrainian universal bank with private capital. The activities of the bank are focused on commercial, retail, and investment banking operations. The Bank was founded in 1991. The Bank provides services for over 1.6 million private clients and 83,000 corporate clients. The main shareholder of the bank is the LLC "SCM Finance" (92.24% of the capital stock), is a member of the SCM investment group. SCM is owned by the businessman Rinat Akhmetov.

www.pumb.ua;  www.scm.com.ua

Idea Bank (formerly Plus Bank) was founded in 1989. Its sole shareholder is the financial group Getin Holding S.A. (Poland). According to the National Bank of Ukraine, as of September 1, 2021, in terms of total assets (UAH 5.6 billion), Idea Bank ranks 16 among 71 operating banks. The bank provides services to over 400,000 private clients.

www.ideabank.ua