Industrial bank and Expres bank decide upon merger

Upon the completion of the merger between Expres and Industrial banks, the capital base of the new banking institution to stand at UAH 1.35bn (USD 57mln and the assets will amount to UAH 4.24bn. The bank will become 27th in terms of assets in Ukraine. New bank will stick to the name of Industrial bank after NBU issued a resolution for Industrial Bank to become a leading bank in the new banking group. At this, Industrial bank has been operating in Ukrainian banking sector since 1990. Back in 2005, Industrial Bank took over MT Bank. As of August 1, 2017, the major shareholders of Industrial Bank are Roza Dvoretskaya, (direct participation - 48,3457%; indirect participation - 17,1884%); the insurance company Zakhid-Reserve (direct participation - 17,1884%); Igor Dvoretsky (direct participation - 3,9979%); Anna Dvoretskaya (Ukraine, direct participation - 0,3946%). At this, Roza Dvoretskaya and Igor Dvoretsky hold more than 80% share stake in the charter capital of Express bank throught direct and indirect participation in the bank. After the completion of the merger, Roza Dvoretskaya, Igor Dvoretsky and Anna Dvoretskaya will possess more than 72% in the charter capital of Industrialbank.