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Alfa-Bank acquires Bank of Cyprus (Kiev) for EUR202.5 million
Journal Staff Report

KIEV, April 18 – Shareholders in Alfa-Bank (Kiev) on April 17, 2014 finalized a deal with Bank of Cyprus Group on the acquisition of 99.77% stake in Ukraine's Bank of Cyprus (Kiev) and the credit portfolio issued by the group to Ukrainian borrowers, the press service of Alfa-Bank has reported.

According to the press release, Alfa-Bank (Ukraine) accompanied the deal: the total sum of the deal is EUR 202.5 million.

"The plans of our shareholders did not change – they [are] the further growth and strengthening of the bank business in Ukraine, including via the non-organic growth. The acquisition of Bank of Cyprus is in line with the said tasks," reads the press release, citing Chief Executive Officer of Alfa Banking Group Rushan Khvesyuk.




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