UniCredit has completed the sale of Pjsc Ukrsotsbank to Abh Holdings (Abhh). The operation, announced last January 11, concerns 99,9% of the Ukrainian Bank. In exchange, the Italian institute obtained 9,90% of the Luxembourg holding company controlled by the Russians of Alfa Group and known for having already invested in various banking groups.
The economic impacts are already included in the 2015 results, except for the effects on the exchange fluctuation reserve equal to minus 750 million euros at the end of September 2016, with a neutral impact at the capital level.
The operation on the Ukrainian subsidiary has already received the go-ahead from the central bank and the local Antitrust.
