NBU allowed the merger of two Ukrainian banks

The national Bank allowed the merger Industrialbank and Ekspres Bank

The national Bank of Ukraine has granted permission to join the Express to the Bank Industrialbank.

This is stated in NBU resolution of August 18, 2017.

In the result of reorganization of JSCB “Industrialbank” will become the legal successor of all rights and obligations of the Express Bank in respect of its clients, partners and counterparties.

Also, as noted in the NBU, Industrialbank will acquire all the rights transferred to it the assets, including rights under contracts of guarantee. In addition, it goes the debtor’s obligations to creditors (depositors) of the transferred obligations without the necessity of amending the relevant agreements.

We will remind, in June of this year, the national Bank has optimized the procedure for reorganization of banks through consolidation. Due to this significantly reduced the period of reorganization, including the consideration of the regulator documents of banks participating in the reorganization.

According to the NBU, credit belongs to a citizen of Israel Rih Butler (48.3 percent) and citizens of Ukraine Igor Butler (3,9%) and Anna Butler (0.4 percent). Also, shares of the Bank in the amount of 17,2% owned insurance company West of the Reserve.

The majority shareholder of Express-Bank, the NBU, is rose Butler (80% stake) and the Ministry of infrastructure of Ukraine (18,3% of actions).

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