Fidobank, Eurobank to merge

Fidobank, Eurobank to mergeThe owner and board chairman of Fidobank and a shareholder in Eurobank (both based in Kyiv), Oleksandr Adarych, plans to consolidate his banking assets via the merger of the two banks and involve a foreign investor, Fidobank reported on its website.

"Resting on recommendations of the National Bank of Ukraine regarding the consolidation of the banking market, a strategic plan on development of the bank was drawn up on the basis of united Fidobank and Eurobank. In addition, we have support of a foreign investor, who confirmed its readiness to enter the Ukrainian market and enter the capital of the united bank. Now were waiting for the official agreement of the plan and relevant agreements on foreign investment from the regulator," the bank's press service reported, citing Adarych.

He said that the united bank will be a universal innovation bank for corporate and private clients. Best practices, innovation products and services of the two banks will be used.
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