Bank of Cyprus has concluded a deal to sell unprofitable branch in Ukraine offshore company ABH Ukraine Limited, part of the "Alfa Group".
The transaction value is estimated at € 225 million Parties intend to obtain permission to conduct the transaction at the Ukrainian and Cypriot regulators.
Bank of Cyprus has decided to sell the branch within its updated strategy, which aims to veto non-core operations.
Ukrainian Bank of Cyprus in the ranking in terms of assets of credit and financial institutions of the country took place 68 of October. Loan portfolio was valued at $ 190 million