The European Bank for Reconstruction and Development (EBRD) has signed an agreement to acquire a 30% stake in Ukraine’s Raiffeisen Bank Aval (RBA), a subsidiary of Raiffeisen Bank International.
The deal, subject to approval by existing shareholders of RBA on 3 December, will include EBRD participating in a 122m capital increase at RBA. EBRD said that the deal will boost the bank’s Tier 1 ratio.
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RBA has a leasing division, which provides finance for vehicles, machinery and equipment. The company is also offering its own second-hand equipment for sale or finance leasing.
Nick Tesseyman, EBRD managing director financial institutions, said: "By becoming an equity partner, the EBRD is strengthening the capital base of Raiffeisen Bank Aval alongside with RBI, contributing to a much-needed recapitalisation of Ukraine’s banking sector as a whole and deepening its long-standing cooperation with Raiffeisen Bank International, a major international banking group. This partnership will reinforce Raiffeisen Bank Aval’s position as a major provider of modern banking services of high quality both to businesses and individuals in Ukraine and help unlock the country’s potential."
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