Group DF confirms agreement to aquire controlling stake in Nadra Bank

Group DF is pleased to confirm that it has entered into an agreement to acquire a controlling stake in Nadra Bank, one of the leading full service commercial banks in the Ukraine. The precise terms of the acquisition are currently subject to a confidentiality agreement. The transaction is expected to be completed within the next few weeks. Nadra Bank has circa 700 branches across the Ukraine, 9,000 employees, 2.6 million retail customers and an asset base of circa 25 billion UAH.

The Chairman of Group DF, Mr Dmitry Firtash, said: “Nadra Bank is a stable and well managed institution that plays an important role in the Ukrainian banking sector. It has a strong asset base and an excellent management team. It is our priority to ensure the ongoing stability of the bank and to provide the necessary capital injections required to help steer the bank through the current challenging economic and financial difficulties. I am also pleased that Nadra Bank will remain in Ukrainian ownership and will continue to serve and support its many customers. "

Also commenting on the agreement, Mr Shetler-Jones, the Chief Executive of Group DF said: "We are looking forward to working with Nadra Bank’s excellent management team to manage and develop the business going forward. This acquisition fits in with our Group strategy to grow and diversify our asset base and we anticipate that our businesses will in due course become important customers of the bank."