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03/02/2014
16:45
M&A: Alfa Bank buys Bank of Cyprus subsidiary in Ukraine

OAO Alfa Bank arranged for the purchase of the Bank of Cyprus's Ukrainian subsidiary for EUR 225 million, the Kommersant reported.

According to the paper, the transaction will be completed before mid-April. Along with the target bank, Alfa Bank will receive its factoring company.

As of October 1, 2013, the Bank of Cyprus ranked 68th in Ukraine in terms of asset size (UAH 2.63 billion). Its loan portfolio totaled UAH 1.63 billion, equity capital reached UAH 737 million.

OAO Alfa Bank (tax number: 7728168971) was established in 1990, its authorized capital is equal to RUB 59.588 billion. Almost 100% of the bank's shares belong to AB Holding, a structural unit of ABH Financial Limited B.V.I., owned by ABH Holdings. At the same time, Alfa Group co-owners Mikhail Fridman, German Khan and Alexey Kousmichoff have a 77% stake in ABH Holdings. They beneficially own 36.1%, 23% and 17.9% of the holding's shares, respectively. Alfa Bank's President Pyotr Aven, according to his personal statement, holds 14% of the shares. The Bank has 442 departments and branches operating in Moscow, Russian regions, and abroad, including a subsidiary bank in the Netherlands and financial subsidiaries in the USA and UK.

IFRS net profit Alfa Bank's group for 2012 (IFRS) grew by 29% to $829 million from $641 million the year before. Total equity capital increased by 20.9% to $4.2 billion.


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