CEE Division completes additional steps in business refocusing

  • Extraordinary general meeting in Ukraine seals merger of UniCredit Bank and Ukrsotsbank, which has been approved by the supervisory authorities
  • Czech and Slovak subsidiary banks complete legal integration and will operate under a new, shared name in the future

Bank Austria's CEE Division has completed two more important steps in its restructuring process. Following the adoption of the resolution at an extraordinary general meeting of Ukrsotsbank and UniCredit Bank Ukraine, the merger of the two financial institutions, which has been approved by the supervisory authorities, will now be officially implemented. The new bank, which will operate under the name "UniCredit Bank", has a balance sheet total of roughly EUR 3.3 billion and its network is made up of 435 branches across the country. It has around 6,200 employees. The Czech subsidiary bank was renamed "UniCredit Czech Republic and Slovakia a.s." at of the beginning of the month; the legal integration of the two units was completed in November.

Gianni Franco Papa, Deputy CEO of Bank Austria and head of the CEE Division, had the following comment: "Over the past two years, we have made major progress in the implementation of our strategic plan and the refocusing of our business in Eastern Europe. The completion of the mergers of our subsidiary banks in Ukraine as well as in the Czech Republic and Slovakia will simplify our organisational structure and increase the efficiency of our management. Our local customers – both private individuals and companies – will enjoy the benefits of having even stronger banks in the future."

UniCredit Bank Czech Republic and Slovakia operates a joint network with a total of roughly 220 branches. In addition, there are 46 franchise locations in the Czech Republic. Roughly 3,100 employees serve around 530,000 customers in the two countries. The Slovak arm's name of the bank will be supplemented "foreign bank branch" in the future.

As a sub-holding of UniCredit, Bank Austria manages the region of Central and Eastern Europe. Its banking network comprises roughly 2,500 branches and around 46,000 employees1 in 14 countries. The Group sees itself as a long-term investor in this region and intends to expand its leading market position in the coming years through focused investments in the strategic markets of the Czech Republic, Turkey and Russia.

1 Figures do not include Poland

Enquiries: Bank Austria Int. Media Relations
Tiemon Kiesenhofer, Tel. +43 (0) 50505 - 56036
E-mail: tiemon.kiesenhofer@unicreditgroup.at