Sweden's Swedbank has finalized a deal to sell its subsidiary Swedbank to the key shareholder in Delta Bank (both based in Kyiv), Mykola Lahun, the press service of Delta Bank has reported.
“On April 30, 2013, the deal on the acquisition of a controlling stake in
joint-stock company Swedbank by the majority shareholder in joint-stock company
Delta Bank, Lahun, was finalized,” reads the press release.
As of now, all regulatory documents required for the finalization of the deal
had been obtained: a permit from the Antimonopoly Committee of Ukraine and
National Bank of Ukraine, reads the press release.
According to the document, shareholders in Swedbank at a general meeting on
April 29, 2013 decided to rename bank public joint-stock company Omega Bank and
appointed Lahun as head of the bank’s supervisory board. Valentyn Zasukha and
Olena Popova were appointed members of the supervisory board.
The supervisory board also appointed Tetiana Usacheva board chairperson and
Oleksiy Husarov and Olena Rynda board members.
Swedbank, formerly Joint-Stock Commercial Bank TAS-Kommerzbank, has been
working on the Ukrainian market since 1991. Swedbank acquired TAS-Kommerzbank
and TAS-Investbank, which later joined TAS-Kommerzbank, in 2007 from Sergiy
Tigipko for $735 million. Its largest stockholder as of April 1, 2012, was
Sweden-based Swedbank with a 99.9998% stake.
In 2009, the share of bad assets in Ukrainian subsidiaries of Swedbank grew
from 4.97% to 53.46%, or to SEK 8.18 billion ($1.11 billion). In 2009, the
bank’s Ukrainian business saw a loss of SEK 7.37 billion with assets worth SEK
10.71 billion, and the bank started paring back its business in Ukraine. In May
2012, Swedbank sold its retail portfolio to Delta Bank.
Delta Bank was founded in 2006. The largest shareholders of Delta Bank as of
the start of 2013 were Mykola Lahun (70.6059%) and Cargill Financial Services
International, Inc. (29.3941%).
As reported, the acquisition by Lahun of a 100% stake in Kreditprombank was
completed on February 28, 2013. The integration of Delta Bank and Kreditprombank
could be completed by early July this year.
Delta Bank ranked eighth, Kreditprombank ranked 20th and Swedbank ranked 55th
among 175 Ukrainian banks in terms of overall assets worth UAH 29.842 billion,
UAH 12.217 billion and UAH 3.304 billion respectively as of January 1, 2013,
according to the National Bank of Ukraine.
