The parties plan to close the deal by the end of the 1st quarter of 2022, after obtaining the necessary permits from the National Bank of Ukraine and the Antimonopoly Committee.
The acquisition of Idea Bank JSC contributes to the construction of an efficient and scalable banking model with a focus on the development of retail business, as well as corporate business in the small and micro-segment, and fully complies with the development strategy of FUIB.
“Our goal is the synergy of the strongest aspects of the two banks. On the one hand, it is the reliability of FUIB confirmed by the results of the stress testing of the NBU, quality of service and expertise in working with high-yield market segments. On the other hand, there is a high level of competence of Idea Bank in retail lending, a formed resource base, experience in developing O. Bank, their own digital platform”, commented Serhiy Chernenko, FUIB's Chairman of the Board.
After the completion of the transaction, Idea Bank JSC will become part of the PJSC FUIB Banking Group of as a separate legal structure, without staff rotations and will continue to serve clients under the Idea Bank brand as usual.
“The integration process will take place in stages over 3-5 years and will be as comfortable as possible for our clients, partners and employees. At this stage, our focus is on the stability of the infrastructure of FUIB and Idea Bank, the further development of digital channels of banks and the provision of high-quality and reliable service to clients," added Serhiy Chernenko.