DCH Group owner Yaroslavsky says he will buy another Ukrainian bank if PIB bid fails

DCH Group owner Yaroslavsky says he will buy another Ukrainian bank if PIB bid failsUkrainian businessman, owner and president of DCH Group Oleksandr Yaroslavsky is ready to purchase another other Ukrainian bank if his bid to acquire Prominvestbank (PIB) fails.

"I will expand my presence in the financial segment. If I am unsuccessful with PIB, I'll look at other banking institutions. I have acquired several large industrial assets, and now I need a bank to use as a financial instrument to control them," Yaroslavsky said in an interview appearing in the Biznes (Business) magazine.

PIB was established in 1992. Russia's VEB owns 99.7% of its shares.

According to Ukraine's National Bank of Ukraine (NBU), over the first quarter of 2017 bank assets decreased by 22.9% to UAH 25.61 billion, with the bank falling from Ukraine 11th to 13th biggest bank among Ukraine's largest 90 banks.

The NBU in April received documents from two citizens offering to take part in the purchase of PIB, according to the NBU regulator, who did not identify the citizens.

Media have reported that potential buyers are: founder of MosCityGroup Pavlo Fuks [Russia's Otkritie Bank is preparing to file a bankruptcy case against him] and Verkhovna Rada of Ukraine member Maksym Mykytas.

Yaroslavsky in late May also announced his intention to purchase Prominvestbank.

"On May 12, 2017, DCH directed the offer of purchasing Prominvestbank (PIB), Ukrainian subsidiary of VEB, to Vnesheconombank (VEB, RF)," DCH Group's website said on May 19, 2017.

The Kyiv-based Interfax-Ukraine news agency learned from the NBU's press service that, as of now, Yaroslavsky has not submitted paperwork to complete the deal.
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